BDI - smth nasty is under the hood

٧ مارس ٢٠٢٣

Baltic Dry Index points to smth ugly in global trade to happen. I count move from 2008 top to 2016 bottom as wave circle A. Move from 2016 trough to 2021 peak as wave circle B. Wave circle C is ahead. Assuming C=A extension the bottom should be expected somewhere in the 140-200 range, almost 80-90% drop from the current levels.