Unlike previous instances when shippers rallied over the past few years, this round of frenzied buying has not been prone to a violent, immediate rollover. Instead, we can see two bull flags in a row on the Genco daily. A declining 200-day moving average indicates the shippers still have more improvements to make, but as I have been detailing for the past few weeks they are indeed making strides and exhibiting changes in attitudes in price action.
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