For Week 24 the Clean Tanker Index gapped down on the open and continued its retreat, finishing down at 513. Pushing towards the bottom of our 500 - 525 support thoughts, the index showed little inclination to pull up from its downtrend as yet.
For Week 23 the Clean Tanker Index continued its dribble downwards after nudging our 575 - 600 upside resistance target in Week 21. The index took on the look of a sideways channel in a 15-point down-slide that finished the week at 531.
For Week 22, the Clean Tanker Index shied away from our upside resistance thoughts around the 575 - 600 level, killing Week 21's flash in the pan. With the short Week 22's high at the 569 open, things deteriorated from there to a 540 close.
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 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...