Expected Global Tanker and Dry Bulk Prices
Primant Kumar Mishra, CMT
Chartered Market Technician | MBA | Traded Commodity Portfolios | Predictive Trading Models | Outperformed Benchmarks by $10+ per Metric Ton
Good Morning All,
Breakwave Tanker Freight tanked to 16.02, next support lies around 15.40-15.50 and in this zone i think buyers will have to be more cautious, if one may take risk, may hold shorts (if already short) it may not be prudent to initiate yet another Short position here,
On Dry Bulk both Baltic and Breakwave have taken off and with Breakwave at 2003.35 and Baltic at 1961.00.
On Dry bulk as i had mentioned earlier, I am keen to see if Bearish Divergence between 2297, 2419 and 2291, 2203 is broken higher, if these divergence lines break we may see prices rallying higher, in an ideal condition these 2 divergences should not be broken higher and prices shall be limited but to keep this view one will have to keep stop loss around 2300 which does not give you a high Reward:Risk.
Sincerely
Primant Kumar, CMT
+968-94303179
Note:- 1. Above information is only for Educational Purposes only, These are not a trade recommendation,?