Older post, but I went back looking for it because I recalled...

First 13701 Last

Share
Profile

Follow
Darkstone

3,533 Posts.

3657

15/08/19

10:33

Post #: 40000344
Share

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

Expand

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
1 Upvote

0 Great analysis

Reply

Top Stories

MIN

Movers and Shakers: Zip Co, MinRes, Kuniko, more – The week's top ASX gainers

The Altcoin Landscape (Part 1): Key alternative cryptocurrencies to watch

Bitcoin hits fresh record as instos pile into BTC ETFs – and Trump helps, too

MKT

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

Aussie inflation seemingly hit a 3 year low. So why's the ASX200 red?

Palladium's the newest geopolitical hot commodity. But ASX exposure is limited

Week 44 Wrap: Relatively boring week ahead of US election; HotCopper's most watched; Oz inflation at 3.5%

'We're looking': Nickel-rich Indonesia sounds graphite warning to Aus producers

Making money: How many microcaps should be in an investor's portfolio?

What each US election outcome would mean for Australian companies & investors