BDI trade ideas
Interesting asset to watch: Baltic Dry Index (BDI)INDEX:BDI
Baltic Exchange Dry index is showing some signs of bullish reversal. Despite the fact that Buy/Sell Zones on a weekly chart is in the red zone, historically this setup led to a increase in price.
First Long trade target may be 1600 and up to 0, 0,5 and 1 Fib.
I may assume, that some selling pressure may be met near 0 Fib, so be sure to place your Stop-loss in the safe zone, if anticipated uptrend is legit.
Invalidation may be crushing the 900 zone.
Disclaimer: This article should not be considered as financial or investment advice. Trading digital assets involve risk and may resolve in the loss of your capital. Always be sure to understand the amount of risk involved and do your research before taking any trading/investment steps.
