Don't Ignore This Chart

Coal ETF Forms Bearish Flag

After hitting big resistance in the 26 area, the Coal ETF (KOL) moved sharply lower and then formed a rising flag the last two weeks. These are bearish continuation patterns that typically form after a sharp decline. A move below flag support would signal a continuation lower.

121129kol
Click this image for a live chart.

Enjoy this article? Looking for more?
Don't miss ChartCon 2016!

|


Would you like to receive email notifications whenever a new article is added to this blog?
    

Get new article notifications  
comments powered by Disqus