You may recall that ‘outlier’ commodities Lithium and REE’s took off together earlier in the year and the advice was that if you are a “Lithium head” (or REE head) it would be best to wait for a pullback.
In the event some subscribers watched, waited and bought the pullbacks or are looking to buy a confirmed bottom this update provides some parameters and targets.
LIT indeed pulled back to the support area we noted at the time (around 11 to 11.50). It is on a new rise with good volume. If LIT clears 12 it could be on its way to 13 (pattern measurement, with no visible resistance). Beyond that fundamentals would need to carry the day.
REMX is breaking through resistance today and if that holds up it can get to 30 or higher without much resistance.
I am not going to list buy, sell and stop loss targets because these two items tend to be more for fundamental holders and have been highlighted both now and previously for that special interest group in the their decision making. I am personally moderately interested for now.
The other outlier we often mention is Uranium, and as of now I don’t see any readily identifiable bottoming situation over there in the U patch.