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.