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In last week’s commentary we mentioned that the Market Vectors-Coal ($KOL) could potentially find support on a pullback to the rising 20-day EMA and 200-day MA around 25.50. This support level looks like it wants to hold, and if it does, will create another higher swing low on the right side of the base. As we have mentioned in past reports, the price action should make higher swing lows within the base, along with a tightening of the price action. Our buy entry in $KOL is over Friday’s high. We are placing a protective stop beneath the prior swing low from last December.

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