Range Global Coal Index ETF (COAL)

The Range Global Coal Index ETF (COAL) has broken out from a late 2024 into early 2026 bullish cup and handle pattern. COAL tested and stalled at the 61.8% extension for the rally from the cup low (13.85) to the handle high (24.95) projected from the handle low (20.53) at 27.39, but holding the 26.25 to 24.95 range would keep this breakout firmly in place with further upside potential to 31.63 (100% extension) and then 36.00 (cup and handle pattern count).

Rising 13, 26, and 40-week moving averages from 23.74 to 21.05 underpin this bullish backdrop for COAL.

COAL has provided leadership relative to the S&P 500 from mid 2025, and a breakout from a year-long bottom versus the S&P 500 suggests more enduring leadership for COAL entering 2026.

Chart 1: Range Global Coal Index ETF (COAL) (top) and relative to the S&P 500 (bottom)

COAL's bullish cup and handle breakout also got confirmed by weekly MACD, weekly RSI, and the weekly volume advance decline indicator.

Chart 2: Range Global Coal Index ETF (COAL) (top) and key indicator