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)…

We have recently added API2 Coal to our daily Energy Report, which also covers Brent Crude Oil, NYMEX WTI, US “Henry Hub” Nat Gas, UK “NBP” Gas, Dutch TTF Nat Gas, German Baseload Power and EUA Carbon Emissions.

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