Baltic Dry Index - Shipping downturn in Sight!

Baltic Dry Index, which is benchmark for Shipping rates worldwide is starting its correction

- MACD and RSI divergence is confirmed by break of 3 year Trendline!
- Lets see our man ADX also raises it head further to confirm downtrend is strong! It is currently at 21 and technically above 20 means trend is begining to get stronger

!Ahead are tough times for Shipping Industry with softening of prices!

Interesting This is also a pointer to the global economic slowdown Commodities likely to correct more (specially after the Olympics) One caveat though is the large capacity addition in the shipping industry itself.

Regards