Showing posts with label PRGN. Show all posts
Showing posts with label PRGN. Show all posts

Sunday, August 22, 2010

Baltic Dry Index and Paragon Shipping (PRGN)

Chart analysis of Baltic Dry Index and one of dry bulk shippers (PRGN)

Baltic Dry Index


PRGN


BDI is facing resistance at both 50% retracement and neck line at around 3000.  Watch closely to what BDI will do at that point, if it breaks above the resistance, then double dip recession won't be real and S&P 500 will not tank.  If it breakdown by resistance, and resume falling, then prepare for S&P 500 crash.