Tim Treadgold wrote a piece on 2 March:
http://www.resourcesrisingstars.com.au/news-article/lithium-shock-short-lived-battery-boom-roars
It's brief and worth a read.
In essence he says the lithium price will move on after one investment banker (Citi) jawboned price up and then Morgan Stanley followed and jawboned it down.
I guess they (MS) have enough paper now as the LIT etf daily chart gapped up on the NYSE o'nite.
The chart also displays bullish divergences. (Orange markings)
A weakening USD will help the bullish side for resource metals. The USD has rolled over and resumed its downtrend (before the Cohn resignation news broke).
Tim Treadgold wrote a piece on 2 March:...
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Last
7,897.5 |
Change
48.100(0.61%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 7,849.4 | 7,907.0 | 7,849.4 |
| XAO (ASX) Chart |