Its pretty hard to argue with the trend, or the topping pattern @ $5.
My take on it from here, is that the really strong bounce off the 21 WMA (red) is gonna cram up towards the $5, and then get smacked again, from observed strong resistance. Maybe a build of an ascending triangle at the $5 ? If the amplitude is down to $4, and then up to $5, that could be big.
It was also interesting to see that the RSI on the chart go north of 70 in April - and only come back under it in late July - so from that indicator, a pullback was inevitable. Probably even healthy.
Longer term, it still looks like that uptrend will continue - this is the weekly, so pretty reliable. Plus what the fundamentalists on the forum are saying that production is going north, and there are some pretty compelling lifestyle trends around the shift to energy storage using Li.
