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Hi H00tsDoesn’t look like much of a bounce coming soon, even...

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    Hi H00ts

    Doesn’t look like much of a bounce coming soon, even though one was sort of due soon.
    Ganfeng (002460) and Tianqi (002466) are continuing to head south. Also after yesterday’s NYSE public holiday in the US, ALB is down -4.3% into opening.

    So my interest lies in whether 3.10 again provides support in todays trading and into next week on the daily charts.

    On the weekly chart all the signals are for me bearish.
    * 10WMA turned downward few weeks ago and has crossed below the 40WMA
    * Macd negative for 2 weeks
    * 40WMA has been declining from a peak of around 4.50 last Oct to the 3.80’s currently.
    * If the support around the 3.10 fails then the bigger ABC downward pattern FIB’s target well into the $2 range

    We shall see?

    Cheers Lies
 
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