by Dave Walker
BDRY profile: ”The Fund’s investment objective is to provide investors with exposure to the daily change in the price of dry bulk freight futures, before expenses and liabilities of the Fund, by tracking the performance of a portfolio consisting of a three-month strip of the nearest calendar quarter of futures contracts on specified indexes that measure rates for shipping dry bulk freight.” Source: drybulketf.com
Week 25 saw $BDRY continued its tentative push, moving a little more into our $12 – $14 resistance range to close the week at 12.69.
As before, we still have the impression of $BDRY building on a base of support just below existing values. We tentatively marked possible support around $10.50 – $11.00 back in Week 22. A few of our indicators appear to hint at underlying strength, although continued peakish signs and stubborn upside resistance is cause for caution.
Baltic Supramax Index, Week 25.
Baltic Panamax Index, Week 25.
Baltic Capesize Index, Week 25.
*Disclaimer: superiormar.com holds no stock in $BDRY