I think we may have entered a trading range between ~86.5c and ~$1.075, if you consider we recently ran from 86.5c to $1.125 closing at $1.075 then back to 87c followed by a run up to $1.08, where the opening price was $1.075. So we didn't make a lower low, but we did make a lower high. So we're still in a downtrend. We may bounce again at the 86.5c support, which would further confirm we're in a trading range or we could bust through and make a lower low. Interestingly, we were in a very similar trading range from mid-2007 to mid-2008, but we briefly dropped through support to 81.5c then jumped back into the trading range. That's a spring in Wyckoff and I wouldn't be surprised to see something similar happen, maybe the last big shake before Lynas gets that long awaited TOL?
LYC Price at posting:
95.0¢ Sentiment: None Disclosure: Held
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