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!
- Forums
- Charts
- New TA/Charting
Miners across the board are getting smashed at the moment, and...
-
-
- There are more pages in this discussion • 7,300 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
|
|||||
Last
90.5¢ |
Change
-0.020(2.16%) |
Mkt cap ! $2.194B |
Open | High | Low | Value | Volume |
91.0¢ | 93.5¢ | 89.0¢ | $26.09M | 28.68M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
7 | 472933 | 90.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
90.5¢ | 446423 | 6 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 5786 | 0.900 |
4 | 110000 | 0.895 |
34 | 321661 | 0.890 |
8 | 180544 | 0.885 |
17 | 389749 | 0.880 |
Price($) | Vol. | No. |
---|---|---|
0.905 | 22997 | 2 |
0.910 | 105000 | 5 |
0.915 | 95187 | 4 |
0.920 | 25500 | 1 |
0.925 | 44911 | 4 |
Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
Featured News
LTR (ASX) Chart |
The Watchlist
LU7
LITHIUM UNIVERSE LIMITED
Alex Hanly, CEO
Alex Hanly
CEO
SPONSORED BY The Market Online