Too early to tell but i am jumping the gun here. We need a close above 0.73 and a confirmation as well to be (more) sure. I do really like the forming of the bull flag in the weekly. In addition, there's a mini ascending triangle forming in the bull flag. Let's go!!!
Target : 0.89
Close below 0.65 invalidates this outlook.
Double bottom now at play. Refer to notes for my reasonings.
My analysis of the triple bottom can be seen here, so potential high rewards like last time:
Let's hope big Trump gives good vibes to the market, he seems to be f-ing up lately.
Negatives:
Current lithium carbonate prices
Positives:
Money flowing out of vanadium, could be mean money coming...
Having broken thru the .80 zone of support, the downtrend continues with a strong bearish candle for the week (ending tomorrow 07/09). The next level of support is at .67 (the .618 fib level) before it continues to .60 (historical resistance when the script was moving up) . If the stock markets move down due to world events, I cannot discount the price reaching...
Current sentiment:
Hard sell off from falling spot prices, unjustified IMO especially when PLS is selling at market prices, but it is what it is.
Goldman Sachs big net sellers, deutsche bank big buyers
High volume in the sell off from the highs
Signs of a reversal are possible:
Dragon fly doji showing on the hourly chart (forming into a bullish...
Something was bound to break on this one and it looks like the bulls have made their moves.
Dragonfly doji on support
Bullish expansion on the bollinger bands
Lower lows and higher highs on the RSI
Brokers playing chinese whispers and suggesting the lithium market is oversold is another signal for me.
ASX:PLS We are pounding on the support line $0.865 the third time.
I am not confident that this support will hold, look for support around $0.81.
The TK cross last week above the clouds was a sign of an incoming bearish signal albeit a weak one. Yet the prices continue to fall and refused to close above the clouds for 2 consecutive days already. I believe that...
It seems like bulls have refused to push above and beyond 0.95. Bears are winning for now. The coming week, I expect a pullback to the 55 EMA highlighted in grey box.
If hell breaks lose, we will go down to the 100 day EMA also highlighted in grey box.
My weekly indicators are bearish and unless we break above 0.95, my bearish outlook remains. Chart will be...
The volume on Pilbara is declining. That can mean 2 things. Investors are holding it and waiting for a good sell entry, or when volume comes in, weak hands will be shaken off.
I am still hopeful for PLS to test the upper channel of the ascending triangle and hoping for a miracle to break upwards. But left side of the chart shows that an ascending triangle can...
Prices of PLS is now residing in the cloud. Last week 1D close has formed an ascending triangle.
If prices do not fall under the cloud, we should see PLS testing the top of the ascending triangle at $0.95 and hopefully, a breakout to $1.00 this week.
