Two Key Moving Averages Define the Trend for the Coal ETF
The Coal ETF (KOL) got a summer bounce, but stalled in the autumn and then hit resistance from the falling 200-day moving average. The 50-day moving average joined the battle as it met the 200-day at the end of December. With a sharp downturn the last three days, KOL appears to be resuming its long-term downtrend and heading for a test of the summer lows. The indicator window shows the StockCharts Technical Rank (SCTR) plunging back to its lows as KOL underperforms the rest of the market.
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