Lost momentum, now playing macro..From a weekly perspective,...

Lost momentum, now playing macro.

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From a weekly perspective, another drop from 53 to 49 this week, on low volume.

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So what is happening? Li sector still waiting for some change in sentiment, till now no signs. Both ALB and Ganfeng playing with weakness. ALB has dropped close to 10% this week, Ganfeng around 3. So no good signs till now.

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WR1 is now playing macro. Couple of weeks back, it showed some character, reached 63.5. On hindsight, looks like misguided enthusiasm. Now back to playing normal game. Which is with weakness. Did another touch of 46.5, the 52 week low. Needs to hold here, otherwise 40 may come into picture. But the drop is on comparatively low volume, average less than 500k per day, so most punters not playing the game. More of a wait state for holders, some getting out, very few new entry.

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Personally, once again no play for me here.

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So what may happen next week? Not expecting any fireworks till Li macro changes. The signs are still not good, but sentiment is a very fickle thing. A small change could do wonders, especially in the initial phase. . General markets also getting iffy, recession talks spooking some punters. So no reason for new entry at this stage, hopefully soon. Enjoy your weekend and all the best.