Disappointed but not surprised that 120 a previous CR didnt hold which leaves 110.5 as next support.... the impatient are being played here. Sophs and instos feasting on retail punters and will likely trigger some stop losses at 110.5 obvious support for the liquidity event they need to reach their limit.
Global economy a bit jittery ... but Chinese lithium inventory's are getting very low , EV sales picking up and the seasonal uptick in global EV this quarter could kick in soon.
Fin Review, 4th Oct GoldmanSachs seeing lithium prices continuing to fall under the weight of increasing supply into next year, before rebounding in 2025 – but only back to 2021 levels, at about $US15 a kilogram. That’s broadly in line with market consensus but below Wilsons’ long-term price estimates of about $US25 a kilogram for whom history suggests bringing on new supply is fraught with cost and time overruns – as several Australian lithium miners can attest.
Take your pick
PMT Price at posting:
$1.16 Sentiment: Buy Disclosure: Held
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