“Weak Demand Signals Potential for a Lower Low”

26 Mar

Currently, the position of NCF1! or Newcastle Coal is within wave 5 of wave (C) of wave [Y], indicating that Newcastle Coal remains vulnerable to further corrections toward the 86.55–96.15 range, as represented by the black labels.

A similar pattern is observed in the red labels, where Newcastle Coal is also nearing the completion of wave (5) of wave [A].

We observe continued pressure on coal demand due to weak consumption and oversupply, as many countries are increasingly investing in renewable energy sources amid slower global economic growth.

4 Nis

İşlem aktif

Pay close attention to the next movement, as coal remains vulnerable to further correction. The nearest correction target at 96.15 is expected to be reached soon.