Thought I would start a fresh (BGS)
MLL Charting thread ... For Chart appreciatenados(if there is such a word or "thing").
Of course, I'll say upfront, MLL "technically' is still very much in a L/T downtrend(since our 84c DT)! Whilst there have been numerous short-term hints of bottoming over the last 6 months we are still trying to establish more convincing signs of a confirmed bottom. In essence, we are still seeing a series of lower highs and lower lows(although more recently 'slightly' lower).
Looking more closely at some short-term 'signs' one could find some potential, once again, that just maybe the tide is indeed turning(or heavens forbid even a bottom of significance, i.e. in price terms, at 9c) ... BUT this comes with a lot of TA provisos!
Whilst it is good to see some 'more than average' volumes over the last few days as we, firstly, ran into to test the previous 9.5c low, and then our two day bounce out, all we have achieved so far is to fill the only open upside gap(at 14c) and today's Gap up(from yesterday's close @ 11.5c).
We NEED to initially get a close above 14c, to even get slightly excited, but more realistically
a close above the S2 or even S3 levels(18c and 21c respectively) before we can say a bottom of any significance is in place.
View attachment 1711360OF COURSE, the other major TA(and Fundamental) requirement to establish "the tide has indeed turned" is for the
price of Lithium to rise ... substantially and sustainably! Now that is very likely a time away yet judging on the
LIT Chart below... Very unloved indeed even "hated".
View attachment 1711357
(20min delay)