For Week 6, the Handysize Index continued to test our support ideas in the 525 – 550 range, closing well into that area at 526 for the week.
The MACD is of course firmly bearish, but hasn’t yet
got into the zero zone or below yet, however it’s close.
As with the handies, the Supramax Index took another downswing in Week 6, closing at 825.
The next couple of weeks may begin to show less gloominess, if our 750 – 800 support target holds.
The Panamax Index took a deeper excursion downwards for Week 6, closing at 1250. We had a eye on the 1250 point for signs of bearishness, but with no breakthrough yet there remains hope for some support in this area.
Week 6 appeared as a deeper adjustment in the overall
flattening out of the Panamax Index since late 2017.
In marked contrast to the other indices, for Week 6 the Capesize Index continued in the tight range seen in Weeks 4 and 5. Closing on a uptrend week at 1790, the Capes appear to
be taking the rest we were hoping for back in Week 3.