FIS Technical – Panamax
Panamax Index- The index is producing a potential higher low on the weekly chart, suggesting upside resistance should be tested.
Q4 – Testing upside resistance whilst producing a bearish divergence, this would suggest that a market pullback within the bull trend is needed.
Cal 18 – A technical breakout but a bearish divergence, indicating the Cal 18 needs to mean revert.
Q4 v Cal 18 – Remains range bound. Caution on a false breakout to the upside as it is likely to produce a bearish divergence.