I am not impressed by your technical mumbo jumbo. To me the down trend is still in play and there is little evidence of a re-entry of buyers into the market.
As per my last post I see weak trading in the eighties. I also see an eventual decline into the seventies - assuming we do not get some very good news in the mean time.
We could well be in the seventies sometime next week. There is a nasty glut in Lithium at the moment which will last into mid next year. Weaker hands are likely to exit the stock rather than wait it out, particularly if the glut worsens or takes longer than expected to clear. Oversupply situations can take a while to resolve as suppliers fight for survival.
it’s not nice but that’s what is on my radar.
Chart, page-14504
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