FIS Technical – Panamax
Panamax Index-Technically bullish, the index would need to close below USD 8,496 for this to change.
Q4 – At resistance with an overbought stochastic would indicate we have further to pull back. However this technical is currently bullish and downside moves could be limited as the short period RSI is oversold.
Cal 18 – Support is at 8,910 and we are seeing higher lows. If support holds we could see higher pricing.
Q4 v Cal 18 – Remains within its range. The oversold RSI would suggest it has a higher probability of an upside breakout.