FIS Technical – Supramax

Little changed on the index from last week. Technically bullish but price action is neutral and between the shorter period EMAs.

Last week the June futures were considered technically bearish but not a technical sell due to the market divergence. Price rallied, held at the USD 11,410 resistance and is once again testing the lows. Again, this market is not a technical sell as we remain in the support zone with a high probability the market will once again diverge.

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