FIS Technical – Supramax

The weekly index has now entered a bullish phase, however the daily technical is showing signs of a momentum slow down. Market pullbacks that hold above USD 11,031 would indicate upside continuation. Below this the technical is considered to be weakening.

The July futures are making higher highs and higher lows and should be considered as technically bullish. However, momentum and price are slowing suggesting we could see a technical pullback soon. Price action below USD 11,669 would suggest the bull phase is weak

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