FIS Technical – Supramax

FIS Technical – Supramax 

Supramax Index- Within range but the technical is firming. USD 8,282 is a key breakout level.

Q4 – A bull bias and looking to test technical resistance. USD 9,720 remains a key level. Caution due to the stochastic being potentially overbought on a market breakout.

Cal 18 – Approaching last week’s upside target. Caution on resistance being broken due to a bearish divergence forming.

Q4 v Cal 18 – Technically bullish but needs to mean revert for fresh buy entries. Caution on a close below USD 405.

smx 13-7-17

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