Ours is not to wonder why. Fact is the rise to 24.5 should have been higher at least 30p. Now price is pretty much on support of a very large up channel median line mid 30's and the previous rise didn't even touch it. Being on support could tempt the heard in and any rise is likely to reach median line. However cannot ignore support nor breach of it. Fingers crossed I think znwd is likely to rise after a 2 week retrace, hopefully irr will follow next week.
Snippet says The tribunal that ruled against Houston-based Frontera Resources in a multibillion-dollar dispute over a Georgian oil and gas block found no evidence that the company had made a discovery or drilled any wells at the site, it has emerged.23 hours ago
The longer term trend is bull but that doesn't help if the current shorter term bear trend doesn't end when it expires. If it closes under 19.8 the shorter term bear trend will extend, I would say as long as it doesn;t close under 19.8 tomorrow we should see a change of sentiment.
In the leiu or any news expected or otherwise the Li junior miners seem to be trading quite technically. If this be the case I would expect IRR to lanquish another day at least, if hoerver it hasn;t made a new low under 19.8 by Friday I would expect to see the beartrend expire, it may take a day or two after that to fully resume the bull trend but next week this could be looking alot better. All provided we don't make a new low (close) under 19.8 by Friday I would say
RE: CEZ just signs MoU for battery plant with Czech Govt27 Jul 2021 14:37
If this is trading as technically as it seems it will be interesting to see : if/when it closes over last high 21.5 (without making a new low first) I would expect to see the bull trend resume with a sharp price correction upwards (hopefully tomorrow AM if we get the 21.5+ close)
Looks like the down trend completed without making a new low (I got the previous low wrong saying it was 18.75 when it was 18.51 which did get touched a few times but not closes on or under). Fingers crossed the up trend can resume next week
Looks to be a technical retrace to me. Triggered by hitting all time high price, its retraced 50% of the last move already and the timing of the downmove seems to suggest it will complete by the end of the week, this means provided it doesn't make any new low (below 18.75) until then the retrace will be complete and the upmove can look to continue.
Lots of Li miners who have benefited from sharp rises recently have paused and slightly retraced from thier new highs. I don;t see anything different here. Li is in demand, lots of covid news market is wary. Li is in demand.
Absolutely, I am very cautious about the political stabilty of the countries where we are seeing other Lithium companies boom at the moment. The resource could be massive and company eell run, but the politics can ruin it all in a blink of an eye. In addition "Europe is leading the way with regard to EV manufacturing, but, as the recent pandemic made evidently clear, global supply chains can be easily disrupted. This means creating local supply chains is paramount to meeting manufacturing targets."