Monday, July 8, 2013
KOL Coal ETF Weekly and Daily Charts Oversold Falling Wedges Positive Divergence
The coal ETF is an attractive knife-catch. The weekly and daily charts show positive divergence across the indicators. The oversold, or near-oversold levels, as well as falling wedge patterns also add to the projected bull fuel. Coal has been slapped hard. Every time President Obama speaks he slaps coal which continues to create a malaise for this abundant and cleaner fuel than people give it credit. There is downside momo on the weekly chart so a jog move may occur over the next couple weeks or month but the projection is for sideways to sideways up for coal and most coal stocks for the weeks and months ahead into the intermediate term. Keystone has an ongoing long position in KOL currently. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.