Short Jul/Aug 3.5 spreads
Demand in Europe is still tepid alongside ample stockpiles, as we get closer to summer cooling season, demand shall pick up and inventories should fall. Alongside this, Jul/Aug 3.5 Barges is trading high in the overbought area on the RSI. Jul/Aug has been rangebound recently so we believe the spread will be bearish.
![](https://onyxhub1fe01bf731.blob.core.windows.net/blobonyxhub1fe01bf731/wp-content/uploads/2024/06/image-16.png)
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