Clean Tankers pause. Baltic Tanker Indices - Week 46 technical commentary.

November 19, 2018

CLEAN TANKERS

 

For Week 46, the Clean Tanker Index took a rest after the Week 45 surge, closing down on the week at 646 within
an eight-point range.

The RSI stayed relatively peakish at 77.54 while the MACD showed signs of lagging in its bullish climb. Pausing just above our previous upside resistance thoughts around 625 - 650, (which may now have some support potential) the index may have the strength to take a run at our next upside target around 675-700.

Should a build of more strength fail, our downside support target is around the 575-580 region, also the area of
last consolidation. 

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DIRTY TANKERS

 

The Dirty Tanker Index consolidated a little in Week 46, closing up at 1106 on a tight range for the week.

The RSI maintained a peakish value of 84.29, as the lagging MACD still maintained a bullish appearance.

Our targets stayed at 900-925 for downside support and around 1200-1225 for upside resistance, as we wait to see if
our previously mentioned peakish signs coalesce.

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