MEM Discussion, page-270

1. “A Clear Double Bottom Is in Formation” – Not Confirmed. What’s being referred to as a “double bottom” is not valid until it is confirmed by a breakout above the neckline with volume. As of now: Price is still near all-time lows, with no clear breakout.The structure could just as easily be a continuation base before further downside — not a reversal. Without confirmation, calling this a double bottom is speculative — and prematurely bullish.

2. Bullish Divergence Claim – Weak and Inconclusive. While there may be a minor RSI divergence, it’s not strong or sustained:RSI is still trading below 50, showing no bullish control of momentum.The divergence lacks follow-through — a key requirement for divergence to matter.A valid divergence must lead to a trend change — not just flattening price action. We haven't seen that.

3. Volume Spike ≠ Trend Reversal - You reference an increase in trading volume. That’s true but:Volume without price breakout is often a sign of distribution, not accumulation.If smart money were truly accumulating, we’d expect to see a breakout, retest, and continuation. That’s absent.Without directional follow-through, volume alone is not bullish.

4. The Fundamentals Don’t Override the Technicals - The narrative around transitioning to commercialisation may be exciting, but technical charts don’t price in potential — they price in current reality:The chart is a reflection of supply and demand, not company intentions.Until the chart confirms that sentiment has shifted — i.e., a trendline break, a shift in structure, higher highs/lows — technicals remain bearish or neutral at best.

5. Trend Still Down, Market Structure UnchangedLet’s not forget the obvious: There has been no change in trend structure: no higher high, no reclaim of previous resistance zones, and no break of long-term moving averages.The market isn’t showing accumulation or a desire to reverse yet.

MEM might be in the early stages of a fundamental turnaround — but chart-based evidence doesn’t yet support a bullish reversal. Hope is not a strategy. The technical case, as it stands, remains unconfirmed and leans bearish until proven otherwise. Focus on what the chart is actually doing — not what we’d like it to do.