Lithium ETF, Weekly

By Gary Tanashian of Notes From The Rabbit Hole

NFTRH & Biiwii's Unique Market Perspectives • May 14, 2014 at 10:54 AM EDT

Here is a weekly chart of the Global X Lithium ETF. I realize that there is Tesla hype built into this chart and also that a certain renaissance man who basically invented the investment case for Lithium (in his own mind) is touting, but here’s the chart anyway, looking pretty decent.

Per an NFTRH subscriber’s request, here is a weekly chart of the Global X Lithium ETF. I realize that there is Tesla hype built into this chart and also that a certain renaissance man who basically invented the investment case for Lithium (in his own mind) is touting, but here’s the chart anyway, looking pretty decent.

LIT has consolidated to a notable support zone, is MACD positive (though down triggered) and is AROON up. Further, two moving averages that triggered down in 2011 signaling the bear, have triggered up and remain so during the ongoing corrective consolidation to support.

All in all, not a bad chart as it stands now.

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