FIS Technical – Supramax

The daily technical on the index remains bearish. However, the RSI is now showing a bullish divergence as we approach a support zone. Downside moves that trade below the USD 10,370 would weaken the long term bullish argument.

The August futures have made a higher high, but the EMA’s remain in bearish territory. Market pullbacks that hold above USD 11,578 would support a bullish technical argument.

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