Elliott Wave Live: Coal is Dead Money : CLF, ANR, BTU

Friday, June 1, 2012

Coal is Dead Money : CLF, ANR, BTU

Coal has been dead money due to many factors such as low natural gas prices and lack of support from the Obama administration.

Big picture chart at the monthly chart level for some coal names. Each are working cycle w.c down. There are some internal differences in the subdivisions. I've only detailed CLF as the overall interpretation has long been bearish for the sector. Price broke support today and my expectation is for further weakness in this issue.

Best of Trading

1 comment:

MikeJuly 17, 2012 at 1:03 PM
CLF : June low is at 44.40 which marks its lowest level since July 2010. Today just .02 off those lows.
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Friday, June 1, 2012

Coal is Dead Money : CLF, ANR, BTU

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