The Market Vectors Coal ETF (NYSEArca: KOL) is down 1% over the past month, but over the previous 90 days the once downtrodden KOL is up 6.3%.

This week, KOL is lower by 2%, but the ETF was able to reclaim its 200-day moving average for the first time in over a year.

So while it can be said KOL has been behaving less poorly than it did in 2012 and 2013 when it posted annual losses of almost 21% in both years, the ETF is still lacking momentum. [Coal ETF Tries a Comeback]

“The RSI has moved into the bullish zone but it made a lower high and is now looking at a lower low. The MACD is also moving lower. And at the bottom, there are no signs of accumulation, just a flat line,” says Greg Harmon of Dragonfly Capital.

KOL is being troubled by some of its international holdings, an important consideration because ex-U.S. markets comprise 61.3% of KOL’s country weight. Over the past month, Consol Energy (NYSE: CNX) and Peabody Energy (NYSE: BTU) are up an average of 5.4%. Those stocks combine for 13.4% of KOL’s weight.

Smaller U.S. holdings are also plaguing the ETF. Over the past month, Arch Coal (NYSE: ACI), Alpha Natural Resources (NYSE: ANR) and Walter Energy (NYSE: WLT) are down an average of 17%. Cloud Peak Energy is off by 12.5%. [Nat Gas Rises, but no Help for Coal ETF]