Today’s Panamax August movement needs to be watched closely for a signal. Prices touched the lower Bollinger band and early trading today suggest a sharp pull back. Whilst all indicators continue to show negative momentum a move up today may put the floor in for RSI and OBV. $18,200 appears to have offered strong support, $18,600-$18,700 (the lows from 1-2 July) will be the first resistance level, followed by $19,250.
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