The coal industry is known to be one of the most closely watched leading indicator for the health of the economy. Coal is just behind oil in the supply of global energy with coal essential in the production of steel and generation of electricity. Price action for coal companies seemed to be breaking down and starting a new trend downwards. Many stocks of coal companies are coming off Head & Shoulder top reversal formations. Watch out below! (Click on charts to enlarge)
Market Vectors - Coal ETF
Massey Energy Co.
Arch Coal Incorporation
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