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Darkstone

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3617

15/08/19

10:33

Post #: 40000344
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Originally posted by Metalduster: ↑

That close yesterday (1.29) was a pullback from resistance at 1.35/6 and allowed for a continuation to 1.65.............
Actually it was textbook stuff from the 1.08 low and no doubt the smarties made some coin already.
Doubt the overall market is going to allow that move to 1.65 from here, with all the negativity around ?

So whats below
If the share price breaks below 1.165/1.17 from here then it will retest the low area again to 1.04 -.98. imo
So a continuation to 1.65 or a resumption down, you be the judge.

Its not hard to work out the favourite.

The Chinese control the Lithium sector and with that I dont see a turnaround coming anytime soon for GXY's Share price.

Overall with the Trade disputes, The Chinese wont like playing ball with the US. That is for sure.
What we want here is the US having/gaining a position of strength to ram home some advantage to keep the Chinese in their place!
A dominant China is a no,no. imo

Back to the Lithium sector, the Chinese are ruthless who can and will dominate/dictate this Sector for all they can get.As usual they will/can manipulate supply/demand
Some Companies will crash from here and things will get more ugly before any upturn by the looks of it. imo
I know I bang on about the Chinese but its like dragging a chain around your neck having them anywhere near the Lithium sector. imo

GXY should be able to ride out this next period. imo
and then what signals a turnaround in trend for the sector ?
We'll find out when it happens.

Md

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Older post, but I went back looking for it because I recalled you saying this. How did you pick 116.5? (Good call, by the way.)

GXY Price at posting: $1.16 Sentiment: Buy Disclosure: Held
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Chart, page-13701

Top Stories

Fast-track assaying yields 182 g/t gold for iTech at new NT play

The Big Deal: Free-to-air TV swings the axe, but will it be enough as enormous sports deal bills loom?

Tivan and EARTH AI gear up to commence fresh drilling at Sandover lead-silver project, NT

Week 27 Wrap: "Election year" is here as UK Labour win contrasts France; Trump wins immunity & annual report season hushes ASX

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