On the hourly MACD has a bit to run, but yes it looks like it...

On the hourly MACD has a bit to run, but yes it looks like it should be leveling off about now. I've noticed that in a falling market it tends to do 2 to 3 down cycles (where the blue line drops below the red line) and in a rising market it does 1 to 2 as it falls. As it rises it seems to do 2 to 3 regardless of whether the over all trend is down or up.

Of more interest at the moment seems to be the stochastic RSI which pretty much always rises when it hits 0 and climbs to 100%. When the blue and red lines cross it is highly accurate in suggesting a trend reversal, and right now it is saying the stock price should rise from here - at least for a few hours.

However, Zerohedge is reporting that the Israeli war cabinet has decided to respond significantly to Iran's attack, and that that is likely to be imminent. A lot depends on what that response is, and how effective. If it is as ineffective a Iran's attack on Israel we can expect further rounds and mareket mahem, I think. If it is devestating and cuts the head off the snake, or obliterates the weapon's stores, or takes out their electrical infrastructutre we might see calm descend or Iranian regime change, but the lieklihood is that it is well short of devestating but well above insignificant - and hence simply prolongs the conflict. So we are sitting in the middle of a black swan event which potentially trhows our models out the window. A huge amount depends on how smart the Israeli's are in their next step.

Of course, all this causes huge tension impacts on oil prices, which acts as a counter weight to Lithium. Higher oil price makes Li more valuable, while higher oil price also supresses the economies driving EV take-up demand - so there is a complex equation balancing the Li price here. It is likely, I think, that the impact on Li futures is likely to be moderated a little by this complex interplay of influences when compared to some other stocks which respond to just the economy alone.