Market supported in todays VWAP 5.76¢ (white line), mid technical support zone... a welcome confirmation. A test of support came with the blip down to 5.6$ , no seller appeared and so up we went. Good to see the volume drying up on the pip lower today. At this stage we get a nice bounce off support ,,or consolidate for a few days in todays price range. (click on the chart for improved clarity)
[Some random thoughts ... as we all know, a substantial fiscal/monetary stimulus from China would put a rocket under Li sector. If it doesn't, then the Canadian stocks should shine being the direct beneficiary of the supportive United States A$520B IRA bill & the Canadian innovative govt Flow Through financing scheme. Canada's state & federal Govt are focussed to build out a fully integrated Lithium industry to service the 'new economy' .... not sure the market fully appreciates all this yet... maybe it will take a Chinese crisis to see the benefits of holding Canadian Lithium stocks.]
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