“A move above the trend-line would set it up to test the 18.75 resistance level, where it pulled back from in early March. A break through the 18.50 to 18.75 area and it may move up and test its 52 week high of 23.00. It has some near support at the 17.90-18.00 level,” he said. [Friend Fear With ETFs]
KOL has not closed above $19 since the end of last year and the ETF has not closed above $21 since May 2013.
Market Vectors Coal ETF
Chart Courtesy: Street One Financial
Tom Lydon’s clients own shares of SPY.