$BDRY pauses…..slightly. Breakwave DryBulk ETF : Week 29 commentary.

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

$BDRY Forward Freight Agreement weighting: Capesize: 50%, Panamax: 40%, Supramax: 10%.


As $BDRY approached our previously-mentioned $18.00 target zone, the fund took a slight dip early in Week 29 before climbing further to close at $17.57. The Tuesday dip and Wednesday indecision in $BDRY might be all we’ll see of our tentative resistance target.

Our RSI cruised along in peaking territory as the MACD finally reached into positive values, with some of our other indicators agreeing with the RSI and suggesting some type of consolidation is due.

Of course, some mere technical indication of peakishness can be easily brushed off by general market sentiment, and perhaps that’s what we have with dry bulk shipping at the moment. With Week 29’s slight pause possibly suggesting support in the $16.50 – $17.00 area, we wait to see if our old $12 – $14 support/resistance zone becomes just a distant memory.


Baltic Supramax Index, Week 29 2019.


Baltic Panamax Index, Week 29 2019.


Baltic Capesize Index, Week 29 2019.


Dry bulk numbers climb….with warning signs? See our Baltic Dry Indices: Week 29 commentary at https://superiormar.com/


*For further insight on financial freight futures, pay a visit to https://cotunchained.com/ for Commitment of Traders data on SupramaxPanamax and Capesize positions.


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