I agree that the decrease in volume isn't amazing but when I look at this chart it seems to be preparing for the anticipated "re stocking phase" Can see us crawling up to the EMA over the next week as CNY takes place.
I feel people are very touchy with Li stock right now and aren't willing to buy alot until a breakout is confirmation or there is clear evidence that the tide is turning.
Then if the restocking results in a LI price spike, we breakthrough the EMA and potentially start to turn the trend. If the re supply doesn't result in anything and it goes bust then I can see us being rejected off the EMA but in the wrong direction.
Think in the near term that is the catalyst everyone is watching. Also happens to coincides with ALBs reporting session.
Interesting times ahead for sure
WR1 Price at posting:
63.5¢ Sentiment: Buy Disclosure: Held
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