Hi all, there was some obvious demand appear at this level with...

Hi all, there was some obvious demand appear at this level with Tuesday's Stopping Volume bar, so very interesting to see how price has reacted since. There was another high volume Stopping Volume type of bar two weeks ago but demand didn't follow through and it turned out to be what looks like a brief profit taking pause for the shorts, so will this one turn out the same way? I turned to the 15 minute chart just for a different perspective and have marked up a potential Wyckoff accumulation in progress for some infotainment. Just keep in mind that it's only a 15m chart, so bearish and bullish signs are short lived and have less significance compared with the same things on a daily or weekly chart, but it will still be interesting to see how it plays out.

Firstly, you can see from the Volume Profile that there has been significantly higher trading volume at both the top and the bottom of the trading range. At the top it looks like price capping while at the bottom of the range it shows there's demand coming in and absorbing the selling. On the positive side, today price rounded off at the bottom of the range, suggesting demand stepping in, however the last ST I have marked may not be over yet and Phase B could drag on a bit longer. Regardless next up is Phase C and it usually features more violent or aggressive testing- maybe a Spring or other shakeout type of thing?

And back to the Stopping Volume bar on Tuesday - often that type of high closing, high volume bar needs to be tested to check whether there is still keen sellers at those levels. An ideal test would be a bar that dipped in to the range of the Stopping Volume bar and popped back up but on low volume to indicate little further interest from sellers. Yes a bar just like yesterday which was on the lowest volume in two weeks and closed high on the bar! But today's much higher volume, low closing bar shows that there's still plenty of supply at this level.

LTR and all the Lithiums are being sold off as part of market-wide macro sentiment, but with pricing reaching oversold levels it's well worth watching for signs of a potential bounce of some sort. Nett shorts really only spiked up at the beginning of April and it might just take a small piece of good news like Shanghai lifting some restrictions for example to give it a bit of a kick, which would be helped by some short covering.

Good luck all. Rooster.