The UP World LNG Shipping Index has pulled back to its shorter moving average, with the 10-week MA (around 229 points) now meeting the index near 230. This is the first test of the shorter average since the summer, and the chart’s sketched scenario—a brief touch followed by a renewed bounce higher—mirrors exactly what played out in July, when the two converged without crossing, and the uptrend resumed. The 40-week MA continues its steady climb towards 208 points, keeping the longer-term structure firmly intact.
The positive view remains. As long as the 40-week MA keeps rising and the index holds around or above the shorter average, the path of least resistance stays higher. A repeat of the summer pattern would see the index resume its advance from here; even a shallow dip below the 10-week MA need not threaten the broader uptrend, as we saw just months ago. With winter approaching and peak season underway, the fundamental backdrop continues to support the sector despite low spot rates.
