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
Taking a strong leap to close at $15.02, $BDRY gained strength in Week 27 with the surge of optimistic sentiment in dry bulk shipping.
With this gap-up and strong surge we haven’t said goodbye to our $12 – $14 resistance ideas from Week 18 yet, although a continued strong showing by $BDRY may consolidate and turn this zone into support. Some consolidation would calm our indicators down a little and possibly lead to another step in the dry bulk stairway. For now, let’s enjoy the ride.
Baltic Supramax Index, Week 27 2019.
Baltic Panamax Index, Week 27 2019.
Baltic Capesize Index, Week 27 2019.
*Disclaimer: superiormar.com holds no stock in $BDRY.