Courtesy of Chris Kimble
The health of the global economy relies on several key factors, but one of the more important ones is shipping.
And the Baltic Dry Index (BDI) is a solid barometer for economic activity.
BDI is an index of average prices paid for the transport of dry bulk materials across more than 20 shipping routes.
Today’s chart is a long-term “quarterly” chart of BDI. Notably, trends have been lower since peaking in 2007. But BDI has been rising over the past 5 years and is now testing dual breakout resistance at (2). This resistance comprises of the falling upper channel line, as well as an important 25-year price resistance and support line marked by (1).
Who gives a ship? Well, investors in stocks, bonds, and commodities should! Stay tuned!
This article was first written for See It Markets.com. To see the original post CLICK HERE.
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