Yes, clean tankers versus dirty tankers; it’s hard to maintain good PR with terms like that being bandied around, isn’t it?
We’re just a voice in the wilderness here, but with the Baltic dry bulk indices apparently getting a makeover, is it time to modify the tanker index terminology to something a little more politically correct? To answer the peanut gallery – yes, of course, the phrase “political correctness” has its own negative connotations these days, but what say you?
“Coarse” and “Refined” rather than “Dirty” and “Clean”?
Heavy or Light?
One lump or two, dear?
Would it be a much softer sell when you’re discussing tankers over afternoon tea, pinky finger extended, or is it too visceral a business to be concerned with such nonsense?
The Clean tanker Index continued its bullishness for Week 49, closing up on the week at 686. Our thoughts of reaching
the low 700s were tempered somewhat by the sizable gap-up from Week 48. Although the index has followed a “big step/small step” pattern for the past six weeks, Week 49’s action has us watching for any pullback from that enthusiastic jump upwards. We are still watching our possible support zone around 625 or so.
Well, as mentioned we’re watching for Weeks 48 – 49 gap to be filled, but we’re still hopeful that our low 700s target can be reached.
Staying within a fairly narrow range for Week 49, the Dirty Tanker Index kept on its steady course just above our
previous support ideas in the 750 – 800 area.
Overall, the impression is of very slight bearishness, as the MACD continues to lose ground but is still just above bearish territory.
The RSI is also tailing off slowly, down slightly at 67.37. It remains to be seen whether the index will follow recent patterns, slowly trickling downwards from seasonal high points.