| From Seekingalpha.com: The Baltic Dry Index has been a relatively accurate gauge for commodity prices. According to Bloomberg, the index is off at -94% from its May peak, but has rebounded at +70% since the beginning of this year.
Below is a weekly chart which shows the Baltic Dry Index trading above its 4 (i.e. 20-day) and 10 (i.e. 50-day) week moving averages. Another bullish signal is the 4 week sma’s recent crossing above the 10 day sma. Right now the index shows no signs of turning back as its relative strength (RSI) is moving up from oversold levels..... Full Article: Source
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