LIT etf (lithium etf) is following the rare earths etf (REMX) or vice a versa. Both are on a falling BULLISH wedge, with a false breakdown, now showing a reversal H&S pattern ready to take back the lower trend line of the falling wedge. BULLISH. Plus this chart pattern has been very common in this part of the cycle for many commodities.
Fundalmentally, EV car sales continue to grow plus Tesla power wall continues growth.
Tesla have just done a big Chinese deal, so growth continues.
Could be a game changer coming as CATL have just released a EV battery capable of 1000 klms plus a 10 minute recharge for 600 klms. WOW!
Of course, it begs the question where will all the power come from.
But at the same time it shows the relentless race is going strong for the ultimate battery, with lithium the leader.
Lithium battery prices continue to fall, similar to all technology patterns, so should stoke demand for lithium as well.
LIT etf (lithium etf) is following the rare earths etf (REMX) or...
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Last
3,118.6 |
Change
-38.700(1.23%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 3,157.3 | 3,157.3 | 3,116.9 |
| XSO (ASX) Chart |