Yeah, obvious resistance on fib for potential lower high. But...

Yeah, obvious resistance on fib for potential lower high. But also converging trendlines and trading ranges, RSI, etc for pullback from $4.86 resistance/old uptrend resistance just above at about $5, from TA perspective.




Ideally we'd like to see SP reclaim old up trend channel and form some sort of continuation pattern (another symmetrical triangle like on breakout from downtrend channel or ascending triangle) within old uptrend and triple top tightening range.
Which coincides with SP500 forming tightening range symmetrical triangle, within it's own downtrend. With sharp end coinciding with next CPI data drop in Feb.
Upside breakout on that would also align Macro sentiment with further upside from potential PLS continuation pattern forming over the next few weeks.

Recent sector FA news support Macquarie bull thesis and price target of $7.7, so that supports further upside momentum from here. (which is also about 100% gain from lows. Often a worthwhile target for instos to push the SP up with buying pressure)
And pours cold water on recent months bear thesis of fast supply closing demand gap and therefore moderating market spod prices.

We'll see which way it goes. But looks good for new ATHs from combined TA/FA perspective