Core Lithium Set For Recovery Technicals | Oct 18 2022 [IMG]...

Core Lithium Set For Recovery

Technicals | Oct 18 2022​

​

This story features CORE LITHIUM LIMITED. For more info SHARE ANALYSIS: CXO
By Michael **le
Most market observers couldn't help but find the moves on share markets at the end of last week to be a bit comical.
We had the S&P500 Index rally on a poor CPI number, only to give it all back the next day. We commented last week that it was too early to know if there was a decent enough low in place where we could trade the bounce. Overnight, the US market managed to recover Friday's declines. If it continues to base here for a little longer, then it may lead to some good charting set-ups.
Until then, our advice is to remain patient for the better probability trades. Our analysis today is on Core Lithium ((CXO)).
https://www.fnarena.com/ckfinder/userfiles/files/2022/10/**cxo.jpg
In late July, CXO broke higher from a consolidation and rallied up to the old high. It tested that a couple of times before failing. In the past few weeks, however, it has found support at the old breakout zone.
Yesterday was a good move on some improved volume. This means that we have a buy signal here as it looks as though CXO is ready to recover. If it can get back towards $1.60, then it is likely to find strong resistance