Kijun Sen threat on COAL

After reaching 1.22 per share, COAL retraced and is now trading at 1.13 per share. Based on its chart, there is a threat coming from the Kijun Sen line at 1.01 per share. The Kijun Sen line has the power to attract the price to come closer to it. Currently the Tenkan Sen line is providing support for COAL not to go down but if bears will be strong these coming days, it may fall at 1.01 which is also our 50% Fibonacci Retracement level. In case it hits there, we will monitor for a bullish candlestick formation. Absence of that will mean it will continue to go down further.

RSI or Relative Strength Index is currently at 67.79


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A computer engineer by profession and loves to develop online systems/websites. A self-taught stock trader who loves to share his knowledge and enjoys learning, expanding knowledge and staying well-informed. Most often he uses candlesticks, Fibonacci Retracement levels, Ichimoku system on his technical analysis but loves to hear some rumors as well.

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