I don't want to be called a down ramper for this, but IMO - if...

I don't want to be called a down ramper for this, but IMO - if the LIT ETF has any merit - I believe the lithium market is now in a bear cycle. I tend to agree with the goldman sachs report, just because that is what the chart is telling me.



This is the weekly chart for LIT, and as you can see it has been in a fairly aggressive downtrend. Downtrends are defined by lower highs and lower lows, and that's exactly what we have been doing (possibly this week marks another lower high, if so, likelihood of further continuation to the downside is high IMO). Another thing to note is the RSI, price has continued to fail to break into the buyers strength zone and remained in sellers strength, every time it reaches the midpoint it has been rejected. Again this is not the only indicator telling me the trend has shifted. Another bearish signal is the bearish TK-cross, the last time we had this signal was 11th of June 2018. I won't overly explain the relationship between the tenkan and kijun, but basically the tenkan is the fair value of an asset over a shorter period, and the kijun is the fair value of an asset over a longer period, when they cross that confirms that price has failed to continue to make higher highs and is now in a downtrend and buyers now don't see fit to market "fair value".

Stoch also may cross bearish.



Monthly chart also shows a bearish technical pattern, a break of the diagonal (neckline) would confirm a pretty hefty breakdown in PA.