Coal Appears to Have Completed Near-term Correction

As long as this morning's pullback low at 49.80 in the Market Vectors Coal ETF (NYSE: KOL) contains any forthcoming weakness, my pattern work is "warning" me that the KOL has completed a near-term correction within an otherwise still powerful bullish channel, and has turned up for a retest of the prior high at 54.00, likely on the way to new highs at 56.00.