Miners across the board are getting smashed at the moment, and Lithium charts were hit as a group with a variety of ugly reversal bars on the 5th April. I've included a comparison chart of some of the Lithiums I pay attention to just to show the tight correlation, despite being in different stages on the chart and development.
Below is a daily chart which shows the consolidation since September, some major S&R levels and some Wyckoff markups. It's always tricky trying to read whether it's re-accumulation or distribution while price movements unfold, but I was convinced we were in a Phase D upward trend within the trading range after price broke up through the top of the descending channel or supply line. There had been some bullish divergence and a nice test of major support prior to breaking up, but demand did not follow through and price has since fallen too far since the 4th April top to consider it a back up to the creek type of test, so I guess price wasn't ready for the Phase E markup yet - or was ready but got side-swiped along with the rest of the industry and now has to re-set with some more Phase C testing. Or worse case a Phase D downtrend has already started.
LTR is hitting the volatility extremes that usually mean it needs a breather and my momentum oscillator is hitting oversold territory. It's still trading above the lower bounds of a consolidation trading range where support has been found previously at some very clear levels, so any positive change to market sentiment while price is at these levels could potentially see a decent bounce. So some interesting action coming up - good luck all!
New TA/Charting, page-7969
-
- There are more pages in this discussion • 7,021 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add LTR (ASX) to my watchlist
(20min delay)
|
|||||
Last
$1.40 |
Change
0.000(0.00%) |
Mkt cap ! $3.394B |
Open | High | Low | Value | Volume |
$1.40 | $1.46 | $1.38 | $23.06M | 16.35M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
6 | 106876 | $1.40 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$1.41 | 99 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 2007 | 1.395 |
4 | 43000 | 1.385 |
3 | 25692 | 1.380 |
2 | 44597 | 1.370 |
2 | 6500 | 1.365 |
Price($) | Vol. | No. |
---|---|---|
1.415 | 135148 | 4 |
1.420 | 112736 | 5 |
1.425 | 81122 | 2 |
1.430 | 23665 | 3 |
1.435 | 4000 | 1 |
Last trade - 16.10pm 10/05/2024 (20 minute delay) ? |
|
|||||
Last
$1.41 |
  |
Change
0.000 ( 1.14 %) |
|||
Open | High | Low | Volume | ||
$1.41 | $1.46 | $1.38 | 4853013 | ||
Last updated 15.59pm 10/05/2024 ? |
Featured News
LTR (ASX) Chart |