FTSE ST Maritime Index: 19 May 2014, Monday, 5.45am Singapore Time
Chart courtesy of Chartnexus.com
Chart courtesy of Chartnexus.com
Attached above is the FTSE ST Maritime Index. It is completing its re-distribution phase.
There are now 3 deliberate layers of resistance used to suppressed this sector as illustrated above,
indicated by the YELLOW REGION @ 296.84 points, ORANGE REGION @279.79 points AND RED REGION @ 270.74 points.
The shipping and ship-building sector will be the first to turn as this is the weakest sector in all international financial markets.
There are now 3 deliberate layers of resistance used to suppressed this sector as illustrated above,
indicated by the YELLOW REGION @ 296.84 points, ORANGE REGION @279.79 points AND RED REGION @ 270.74 points.
The shipping and ship-building sector will be the first to turn as this is the weakest sector in all international financial markets.
Donovan Norfolk Technical Rating:
Bearish all shipping and ship-building stocks
Short/Sell
Bearish all shipping and ship-building stocks
Short/Sell
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