Tuesday, 1 August 2017

[BDI] Under the adjustment raising its bottoms

BDI yearly chart, source: bloomberg.com


Baltic Dry Index, BDI showing the international maritime trade volume recorded high since 2015 in April and completed the double-tops pattern. It's the typical signal of down-turn trend and BDI has been under the adjustment since spring.

Since this June, the index levels off but it raises its bottoms gradually recording 946 on July 31.

Rising index signals green and world trade may be more active. I think it supports weak US dollar and strong euro in the currency market.

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