A couple of charts. Firstly, and most importantly Lithium ETF, needs to break and stay above the purple zone to confirm change in market structure. Nothing too positive on this chart at the moment, maybe some divergence with RSI. Until this happens, sentiment is confined to the doldrums.
Secondly, our boy. If we close below the previous low (orange zone), we need to look out for further downside. I’m targeting the purple zone, which will close the longstanding gap at around 37c. I’ll be looking for a short term trade in that zone. For those with the capital there’s no reason you can’t trade this volatility until the sector turns.
WR1 Price at posting:
51.0¢ Sentiment: Buy Disclosure: Held
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