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Message: Week review.

Chart wise it was actually good week. After 50% run-up during the past month , SP  was severely overbought (as I mentioned earlier) and needed pullback. Most traders took the profits and exit their positions.

 I almost gave up on $28  but SP did touched $28.25 few times during Friday  trading session.

 The actual support (to be precise) is 200MA which is $27.78 and SP might touch it briefly on Monday but after that baring bad news- it is back to the races.

 Next week SP should break $32 resistance and shoot for $34.

 I think that last run was due to WH Act which was signed and judge Du effect still will happen.

 I agree that LAC needs to hurry up and start producing from Argentina at least, so we can participate in this hot lithium market while it lasts.

 Reminds me old Eastern Europe proverb: “ Strike the Iron while its hot”.

 

 

 All ahead.

 

 

 

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