I would agree that with so much emphasis on the re stocking I believe that the move to the upside has significant less chance of being as dramatic as people may assume. I do think, if the narrative does hold we are over supplied this could drop quite heavily still.
I personally believe that this rally is the market pricing in an increase to the Li price because, historically the Li price always go up in March. Where the grey area and the thing everyone will be watching, is by how much. 10% up, pretty much already made that gain. We get anything over that I can see us moving north quite quickly.
Alot of Li bulls are waiting for the slightest uptick to the Li price and will race in citing the bottom is in. Because of this, I would say there is a chance for a nice run in March which could result in another dump if the Li prices don't sustain at the higher price.
thanks for the zoom out comment. I see what you mean now. I agree, certainly doesn't have to retest the white EMA. I would still believe the gap will be closed a little more. But time will tell.
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