FTSE ST Maritime Index: 10 June 2014, Tuesday, 4.56am Singapore Time
Chart courtesy of Chartnexus.com
Resistance Layer 1 and Resistance Layer 2 are set up well to re-distribute.
These resistance layers are suppressing ship-building and shipping stocks in the financial markets over the very long term time frame.
Many market participants bought on break-up but have their money trapped by the resistances layers above.
These resistance layers are suppressing ship-building and shipping stocks in the financial markets over the very long term time frame.
Many market participants bought on break-up but have their money trapped by the resistances layers above.
Refer to the past layered resistances and their functions as per analysed in May 2014:
The shipping and ship-building sector worldwide 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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