pimpfreud

LIT ETF: Further Trending Down Bullish Descending Wedge

Short
AMEX:LIT   Global X Lithium & Battery Tech ETF
Expect a further slide down the large bullish wedge into more probabilistic BO zones (as indicated by green projection area within the wedge), then trend reversal that moves within the trident. The current movement is a completion of a bearish ascending wedge, which correlates with a continuation of the downward trend. The VFL shares the current bearish sentiment as does the Wies, with an overall decrease in buying and selling volume - such things also indicate a possibility of a large movement.