Positive trading session with lithium stocks erasing much of the previous sessions losses.
LIT and ALB finished well in the green, however both closed right on resistance (previously support) to leave us in suspense to find out if we are watching a full reversal or a mere back test. Next couple of sessions should give us some more clarity.
Would like to see ALB close above both technical resistance and the $50M print that hit the tape on 1st Feb - trade level $84.19.
One thing I will say is that if lit stocks reverse here it sets the stage for a very bullish move. Failed breakdowns are one of the most bullish trade patterns you'll see and failed H & S breakdowns can be some of the most explosive...
DYOR
GLTAH
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