Week 21 in the Handysize Index was a lack-lustre spell showing little change despite Week 20's small
white candlestick. A small drop to a close at 587 may be some continued flirting with our 575 - 600 support ideas,
and the index did a fair job of supporting...
The Clean Tanker Index in Week 21 seemed to confirm our Week 20 mutterings about the build of upward pressure. Rising from our Week 19 support ideas around the 500 mark the index closed the week up at 563, topping a near-40 point surge from the 526 open.
For Week 20, we saw the Handysize Index recover a little, showing a steady up-trend to close the week at 590. We'd like to think that our 575 - 600 support zone is asserting itself, but we'll have to wait for a little more confirmation.
In the short Week 19, the Handysize Index gapped down but stuck to an extremely tight range, barely moving at all. Still
in the midst of our 575 - 600 watch zone, the index idled along with little difference from Week 18.
For Week 18, the Clean Tanker Index stopped short, retreating from our upside resistance thoughts around 600 and taking a downward run to close at 545. Having reached no higher that 571 on the previous run-up, it may be that the index is having second...