Descending Triangle formed on coal and the price recently broke out.
Now with coal commodities, no matter how well a company is doing - the futures trumps any company.
This is because coal is already at low prices of production and when the price drops, company revenues and profits drop with it.
Think of supply and demand.
More supply results in drop in demand which lowers the price.
Price<200
RSI<30
Target 177.54
Now with coal commodities, no matter how well a company is doing - the futures trumps any company.
This is because coal is already at low prices of production and when the price drops, company revenues and profits drop with it.
Think of supply and demand.
More supply results in drop in demand which lowers the price.
Price<200
RSI<30
Target 177.54
✅ Facebook:
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
✅ Facebook:
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.