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Peabody Energy Corp. Daily Price Chart

Following the identification of a rounded top on BTU we entered a short position in the long term virtual portfolio and also in our private portfolio. When it moved above $40 instead of closing the position we doubled down on our short with an average price slightly below $40.Our stop level is now placed above the upper triangle boundary so our loss in case of a breakout will be minimum. Due to yesterday’s candle we can expect for the price reversal to take shape.

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