BTU Peabody Energy Weekly Chart Rising Wedge Negative Divergence

BTU Peabody Energy weekly chart rolling over from negative divergence and the rising wedge. Daily chart in negative divergence as well so price will take a beating in here. Support at 57-ish which also would serve as a potential neckline for an H&S should it appear. Even if price makes one more run north, there is not much space left in the rising wedge to advance anyways.

BTU has seen its best days, most probably sideways to sideways down in the weeks and months ahead. If the RSI or stochastics crosses down thru the 50% level that would verify the downside. In the near term, price should collapse thru the lower trend line at 63 and then come back up to back test from underneath. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here or any links connected to this information. Consult your finanical advisor before making any investment decision.