The Handysize Index ran strongly downhill in Week 17, bringing the index just short of our downside warning target of 575 - 600. Closing down 16 points on the week at 605, this run downwards was hinted at last week, but as usual we had hoped for better.
Week 17's Clean Tanker Index continued its upsurge, giving another healthy move up to close at 571. The exuberance of the previous week was more restrained as the index approached our upside resistance ideas in the low 600s area.
For Week 15 the Handysize Index gave us a gap down and a 10-point fall to close at 628. Being firmly into our support ideas of 625 - 630, we're watching this area for some handysize consolidation, hopefully.
The RSI gained, trending opposite to the index to 5...
Well, casting an eye across last week's Baltic Indices does raise an eyebrow here and there, doesn't it? We'll have to see how much weight certain ...ahem... politico-economic statements can hold and for how long. As the markets return to full-week action after the Eas...
Week 13 was a continuation of Week 12 for the Clean Tanker Index, which closed at 563. In the doldrums with a tight 3-point range, the index carried on sideways just below our original support ideas around 575 - 600.
For Week 13, the Handysize Index gapped up but gave a more restrained performance of its bullish run to date. Closing up at 652 on a 7-point range for the week, the index worked its way closer to our 675 - 700 upside resistance target.