SSY Weekly Technical Analysis Update – 4th February 2025

“Panamax Cal 26 bounced strongly in the last two weeks. There are two lows at $9,855. There is resistance at $10,670. The long term down trend is being tested. We may have a ‘double bottom’ in place. The two lows at $9,855 with a high of $10,670 in between forms a ‘W’ shape or ‘Double Bottom’. To confirm this bullish chart pattern the intermediate high of $10,670 must break. It is a resistance level and so a range is possible. But, with good upside momentum here, a breakup looks likely. This will give a strong bottom message which will interrupt the long move down for Cal 26 Panamax. ”

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