Not sure what you are looking at, but here is a chart that I posted a few weeks ago. My thesis has not changed at present weakness and too many risks.
Where on earth do you get support at 0.85? If LTR breaks 0.89 the next major support level is around 0.40 with a number of minor support levels in between.
Re the macro outlook, once again I am not sure what you are looking at but the economic indicators I review don't look good for Europe, China and its mixed for the US. These are the three biggest markets. Until interest rates around the world start to reduce demand will not pick up in a big way. This is what is needed to rally commodities. The stock market may front-run that however in anticipation of a pick-up in demand and push stock prices higher.
Maybe you could post your own chart to show your support levels and the logic behind your thinking. I'm happy for the alternative view.
IMO
Not sure what you are looking at, but here is a chart that I...
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Last
$1.23 |
Change
0.000(0.00%) |
Mkt cap ! $2.970B | |||
| Open | High | Low | Value | Volume |
| $1.25 | $1.26 | $1.22 | $7.836M | 6.333M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 39539 | $1.23 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.23 | 12600 | 3 |
View Market Depth
| Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
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Last
$1.23 |
Change
0.000 ( 0.04 %) |
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| Open | High | Low | Volume | ||
| $1.25 | $1.26 | $1.22 | 2016924 | ||
| Last updated 15.59pm 03/05/2024 ? | |||||
| LTR (ASX) Chart |