Whenever the word “Coal” comes up in conversation, a reaction of disgust has become the standard. The reasons range from, “It’s dirty” to, “We don’t need it” to, “Obama” (whatever that means)…..But I don’t know anyone who likes this space. Not a single person in fact. I bet I probably grossed some people out with this headline alone.
So as we like to do around here, when no one likes them it’s probably
time to look a little bit closer. We’ll focus our attention today on
shares of the Market Vectors Coal ETF $KOL. The first thing that stands out to me is the beautiful 5-wave pattern from the 2011 highs down to last year’s lows:
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On the heels of another surge in gold and silver, today top Citi analyst Tom Fitzpatrick sent King World News two incredibly important charts which show that gold may now be poised for a staggering $570 surge and also a 44% spike in silver. Below are the key gold and silver charts that all KWN readers around the world need to see.
Here is what Fitzpatrick had to say: Gold: “A weekly close above this range (in gold) would open up the way for a test of the pivotal double bottom neckline at $1,434 (see chart below)….