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
For Week 30 $BDRY confirmed our upside $18.00 tentative resistance target and spent the week consolidating. So far $BDRY seems to have some support from our Week 29 $16.50 – $17.00 ideas, with the fund closing the week at $16.59.
It may be early days yet, but the pause in $BDRY has us casting an eye over our old $12 – $14 resistance/support zone as BDRY gingerly finds its way amongst weakening dry bulk futures markets.
Baltic Supramax Index, Week 30 2019.
Baltic Panamax Index, Week 30 2019.
Baltic Capesize Index, Week 30 2019.
*Disclaimer: superiormar.com holds no stock in $BDRY.