This is the structure of the global coal in Monthly time frame which show you why I insist on following NCF1!
A BULLISH PATTERN WITH A FANTASTIC R/R!
JUST GUESS THE TARGETS!
Newcastle Thermal Coal Futures breaking out of short-term downtrend + Neutral-Bullish Accumulation around 78.6% Fib Retracement.
Still within larger downtrend after steep sell-off through later half of 2022 into 2023.
(Coal) embers likely re-igniting due to recent China stimulus measures & other macro-economic influences, TBC.
Highlighted preliminary Trading...
Wait and see for 2 weeks forward to make sure of confirmation signal, and let it go till 3rd quartal buy on weakness between 93-100 and I hope it will fly to the moon on last quartal of 2023 until first quartal of 2024
What happened to the "coal thesis" since 2020?
Lots of gains being wiped out for those that didn't sell into strength.
Noise reduced charts get you in AND out properly.
No need to track news events. Price chart aggregates all required information.
#coal #fintwit #stocks
back into range 2 looking for accumulation in this range and a re-claim of the range high to get long on WHC.
Watching waiting and planning. patience is the key.
If it keeps dumping then let it dump see you in hell who cares.
BUT
if it accumulates and reclimas the range high., its time to pay attention.
While according to the 1D signal the price should reverse back up, the other timeframes suggest that the bearish trend may continue at least until the Cosmic Bands S1 line, where the short target is set.
Bearish pennant pattern.
- wait to see if the breakout is up or down.
- the underlying energy supply landscape points to a break
to the upside, but the technicals are
pointing to the downside.
Gas from 0.36 to 7.50 per m3.
Electricity from 0.20 to 1.60 per kWh.
These are ultimate targets but parts of the EU are already half way there right now.
the bond yield hasn't accounted inflation which is increasing
the rba has said it is after frb that au cash rate to be increased
leading indicators of aud all points to decline
technically i will wait until M and W confirms it
The coal has a high chance to make all time high this time. My forecast it can reach US$ 131 or around it. But it will take months from now to make it happen. My focus now is for the next weeks till June 2021, coal apparently will go higher. Though, market will undergo a slight correction but not deep. The target for this upward coming is around 108.45. The...
One commodity that I follow regularly is coal. For the reason, it influence a lot with mining stocks. The bearish trend of coal ended on Nov 2020 last year. Strong support that holds this market is 71.81-70.41. After breaking out that zone, price consolidating and forming box range corrective structure. For the last 14 weeks, price moving inside that box zone....
