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.

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Arthur Hill
About the author: , CMT, is the Chief Technical Strategist at Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London. Learn More
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