Wasn't a great week last week as LIT fell through the ascending...

Wasn't a great week last week as LIT fell through the ascending triangle set up then gapped way down AGY followed but that support level at 12.5 level held strong -


AGY DAILY



LIT DAILY



LIT WEEKLY

Interestingly, LIT bounced off of the .38 fib retrace for this years low and high -

LIT DAILY

Hard to pick where to from here imo. I don't think it's ALL about demand, growing EV sales figures drive sentiment but I think it's that overall risk off appetite in markets at the moment with the rise in gold indicating maybe inflation, debt and conflict worries are the main priority.

the inverse correlation in LIT/GLD


I just keep thinking about all of the positives for lithium such as those global emissions targets we're getting dragged into weather we like it or not, pure lithium batteries ( they're lighter, more efficient and have more lithium ) and peak oil extraction leading to massive prices for traditional energy driving demand into electric. There will be a point in the imminent future where the demand is going to put pressure on the supply chain to positively influence prices.