Lithium might be bottoming out, it's in an area of support, which was the previous resistance level in 2018 - 2021. I suspect it will trade sideways for some time before any move up.
Most commodities have a floor price that's hard to break. Simply because it costs a certain amount of money to extract any resource. If that floor price is broken, producers halt mining & that restricts supply. If demand stays constant the lithium price should slowly recover. Of course, if demand falls, then so does the price, no matter how many mines are shut down.
Econ 101, supply & demand.
Only time will tell.
NMT Price at posting:
13.0¢ Sentiment: Hold Disclosure: Held
