Will Coal Prices Set New Record Highs?

 

Research : Tradingview, NewScientist, GaleriSaham Research Team.

Every time it is corrected, coal always makes a higher low which indicates that buyers are very dominant. So can the price of this coal break all time high?

some of the catalysts that keep coal prices on the up:

• The surge in demand from European countries to reuse coal after Russia cut natural gas supplies to several European countries.
• Winter that requires more energy than usual.
• High demand from countries in the East Asia Region, such as China and South Korea.

Then how the future movement of coal prices?

We can see from the chart above, the rise in coal prices this time has managed to break its trendline at $427 and is currently testing the all time high level at . Technically, if the price stays in the $427 area, this opens up opportunities for the coal price to rise higher towards $539 with a minor target of $471.

Of course, the high price of coal is a positive catalyst for issuers related to coal mining. What are your #Coal Champion Shares?

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