Support 40c, Resistance 47c, 50-52c
Was able to hold support at @ .40c mark. Small downtrend as of the last few weeks, looks like a reversal is coming, perhaps a period of accumulation around the 40c (support) - 47c (resistance) mark.
Gaped up to 43c due to lithium shipment ann.
Ann on time, everything proceeding as expected, thus no huge increases as of yet.
Market would be looking for FA that signifies higher grades of lithium thus payed better money for shipment. Expected to receive $880/t, anything higher would be a great sign. Also any higher production figures for the coming months will also be a catalyst.
Conclusion:
Optimistic: Accumulation for a period roughly 3 weeks? Within that time FA should provide lithium delivery, grade & payments, Mays shipment in tonnes. Hopefully this is a catalyst to reak the 47c resistance and build a new support line.
Pessimistic: Accumulation and support keeps getting tested. If broken possibly move down to 36.5c (small gap down * previous small support), then down to 33c.
Strategy: Looking for a higher support level. Long term hold
Was able to hold support at @ .40c mark. Small downtrend as of the last few weeks, looks like a reversal is coming, perhaps a period of accumulation around the 40c (support) - 47c (resistance) mark.
Gaped up to 43c due to lithium shipment ann.
Ann on time, everything proceeding as expected, thus no huge increases as of yet.
Market would be looking for FA that signifies higher grades of lithium thus payed better money for shipment. Expected to receive $880/t, anything higher would be a great sign. Also any higher production figures for the coming months will also be a catalyst.
Conclusion:
Optimistic: Accumulation for a period roughly 3 weeks? Within that time FA should provide lithium delivery, grade & payments, Mays shipment in tonnes. Hopefully this is a catalyst to reak the 47c resistance and build a new support line.
Pessimistic: Accumulation and support keeps getting tested. If broken possibly move down to 36.5c (small gap down * previous small support), then down to 33c.
Strategy: Looking for a higher support level. Long term hold