By in commentary, technical analysis

Coal Technical Analysis – Sell Signal?

ALERT!

The weekly chart for API2 Coal would give a BIG sell signal today IF we close below 78.53.

A close below 78.53 tonight give us a “Head and Shoulders” sell signal on the Weekly (below).

The next downside targets would be 72.94 (38.2% Fib’ of the Feb ’16 to October ’18 rally) then 69.40 (a big level; the orange line on our chart) then 62.10 (The “measured move” projection for the pattern)…

API2 Coal Weekly chart

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