Displaying some continued strength, the Clean Tanker Index took another run upwards in Week 48, closing at 649.
The possibility of some support building just above 600 is there, maybe in our previously mentioned consolidation zone around 625. Despite our previous caution, the low 700s may be in reach after all.
For Week 48, the Dirty Tanker Index cruised along just above our 750 – 800 support range, closing up on the week at 820.
This support may continue for a while yet, as the MACD , still on the bullish side, retreats a little from its bearish fade, showing a more level trajectory.
The RSI at 71.43 gently retreated from peakish territory, maybe suggesting some consistency at this index level.