Baltic Tanker Indices: Week 46 technical commentary.

November 20, 2017

 

CLEAN TANKERS


For Week 46, the Clean Tanker Index displayed the same magnetism for the 500 - 600 area that we've seen for the past eight months or so. Of course, we can pin the recent Clean Tanker charts to the 2017 hurricane season maps with reasonable accuracy and track the spikes.

The steady climb of the past three weeks suggests a less volatile spike than those seen recently, although Week 46's run-up put the index squarely inside the attraction zone mentioned above.

Whether this turns into support or resistance remains to be seen, as the MACD turns away from its slight bearishness towards another excursion into bullish territory.
The RSI, displaying some neutrality, suggests the Clean Index might see more of the same action as past months. After the re-tracements from the recent hurricane spikes however, we can hope that the last few weeks' action indicates a more solid move upwards.

 

---------------------------------------------

 

DIRTY TANKERS

 

After descending for the two previous weeks, the Dirty Tanker Index for Week 46 closed at 809, showing a small bounce upwards off our previous support target area.

We can probably say the Week 41 gap (created by the boost immediately after Golden Week), has been filled.

The MACD began curving towards bearishness, but if Week 46's support continues that tendency may fizzle. The RSI remained relatively high at 72.17, although off the peakishness seen over the past month. 

 

Please reload

Recent Posts

Please reload

Archive

Please reload

Tags

Disclaimer: Content on this site is provided  for information purposes only. We are not a registered investment advisor, broker, dealer, financial analyst, financial bank, securities broker or financial planner. The contents of this site are not intended to be, and do not constitute, financial advice. For any investment decision, you should seek the advice of a qualified and registered securities professional. This website is provided without any representations, warranties or conditions of any kind. The opinions expressed by www.supermar.info article authors and those providing comments are theirs alone, and do not reflect the opinions of Superior Maritime. Superior Maritime is not responsible for the accuracy of any of the information supplied by these authors.

  • twitter

©2016-2019 SUPERIOR MARITIME