Coal is an often overlooked commodity. There is an ETF (KOL) that has a bunch of coalies in it. It has been firming up lately.
It does not have a lot of history, but in line with other commodities I am going to mark its top as either a a cycle 1 top, or a Primary A Top.
I lean more towards a Primary A but let us not get caught in that debate. We want to make money and not to prove technical points.
In the spirit of making money, let us look at this 10-minute chart of KOL.
It should be plainly obvious that we have a low risk trade potential. If I were not already in, I might start small with a tight stop. Alternatively, I might wait for a move above recent highs.
KOL is now in an intermediate uptrend (days to weeks to months), but longer term (weeks to months to years) is still a downtrend.
Nothing says that the trend will not change, so stops are always prudent.
Do your own analysis, be the master of your own trade!