At a very basic level the technicals are negative. The negative divergences are "non-confirmations" of the recent price highs, and they are telling us that the technicals do not justify the recent price advance. We are seeing similar problems on other indicators, so it is a warning that some kind of corrective action is in the works, at least in the short term. It doesn't tell us if the next move will be a major up or down move, but we have a clue in which direction the next move is likely to go.
However one should look beyond the one time chart patterns and look at multiple time frames to get a real sense of direction.
On my4 year chart I see the following.
We completed 3 intermediate wave up now and reached top of first wave primary wave circled in blue ((1)) which by the way also marked the half way point of the Andrews’s pitch fork.
((2)) is still a target and not yet resolved. I have great confidence that it will be resolved between $1.21 and $1.25 before we climb back into the channel that started in March of last year. I bought more last week as we were approaching this as I believe the share counts available to buy is become pretty tight going forward.
What I find most interesting, that all charts I track with different time frames are showing similar patterns notably screaming, buy me!
On the main indexes SPX and others I track they all remain inside their intermediate channel and no important correction can occur until prices come out of their channel, unlike our’s at CRE.
The markets has now provided us with a 5- wave rally structure off the low struck in March of last year, in my view, that is a strong indication that we are about to rally much higher in the coming weeks. So, I’m starting to see evidence that we can break out over our last high in the coming weeks on our way to much higher levels sooner than later.
PS: Everyone knows what we need.
If the government doesn’t hand out permits for Lithium miners at this point it would be an international embarrassment.
https://schrts.co/bAfAmwdI