SSY Weekly Technical Analysis – 27th October 2026

Capesize November recovered more than 50% of the loss between 8–15 October by 21 October, but the rally failed at the $37,700 resistance level set by the highs on 4–5 August. Despite a small breach on 22 October the downward trendline drawn from 25 September remains intact. Bearish momentum remains and the downtrend may be expected to continue, although a bullish crossover of the MACD line would be cause for consideration, as would a significant breach of the trendline (such as a close above the line). The next support level is the 15 October low of $30,500; resistance is at $35,650 and then at $37,700.