Dirty Tankers meet our resistance; Clean Tankers spring upwards. Baltic Tanker Indices: Week 26 commentary.

by Dave Walker.

CLEAN TANKERS

For Week 26 the Clean Tanker Index popped up to a fix of 539, off a 550 Tuesday high. To acknowledge fundamentals, the PES Philadelphia refinery fire was widely seen as positively affecting product tanker rates. This news, and possibly the index range, was both boosted and tempered by announcements of refinery closure or possible a sale and restart.

Amidst the confusion, our RSI dropped to the threshold of bottoming territory at 34.41 while the MACD took a more positive turn towards its signal-line with the index jump and possible bullishness.

At first glance, the indicator divergences may hint at further index strength outside the high profile news of recent weeks. While the dust settles, we are still watching our 625 – 650 resistance thoughts should the restrained Week 26 action gain momentum.


DIRTY TANKERS

A tight range marked the Dirty Tanker index for Week 26, fixing at 680. Staying in the midst of our Week 15 675 – 700 resistance thoughts, the index kept to a tight 3-point spread to parallel the previous week’s fix.

Our RSI stayed around neutral at 42.02 while the MACD, alone in its bullishness, continued an excursion across the signal line.

Still seeming to have a challenge with our 675 – 700 resistance zone, the Dirty Tankers are under observation for building signs of renewed energy.


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