Timonrosso

Coal showing strong downside to 177 - Watch out with companies

Corto
BSE:COAL1!   COAL INDIA LTD
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

✅ Facebook:
www.facebook.com/groups/matitrader

🌐Website:
www.timonandmati.com

💰FREE Discord:
discord.gg/c8f37kyv35

Twitter:
twitter.com/timonr

Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
Exención de responsabilidad

La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.