Clean drop, Dirty rise. Baltic Tanker Indices: Week 24 commentary.

by Dave Walker

CLEAN TANKERS

Taking a dive in Week 24, the Clean Tanker Index fixed at 491 after a 16-point decline. Previously of course, we had opened our big mouth and remarked on the lack of channel break-out signs.

Still in neutral territory, our RSI declined to 41.14, and the MACD happily followed the index and strengthened its decline.

Now eyeballing our gloomier 450 target, we wait to see if the Clean Tankers’ weakness is just a test of our low 500s support thoughts, or a heavier attraction to seasonal lows.


DIRTY TANKERS

A 662 fix marked an upwardly mobile Week 24 for the Dirty Tanker Index. Seemingly taking another tilt at our 675 – 700 resistance, the index took a 17-point surge from a small gap up at the open.

Our RSI reached towards neutral territory, climbing to 37.42. The MACD also took a crook upwards and parked on the signal-line, awaiting a possible excursion into bullish country.

With all the Dirty Tankers’ slightly bullish signs, we await another test of our Week 15 675 – 700 resistance ideas. Another failure may mean a return to the sideways wandering of recent months.


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