Lynas LYC: a possible rare earth distribution
If break H&S pattern sell at retest. Target might be the low of the significant green bar previously that hasnt really tested before. Relative strength crossed and flipping to downside. Volume starting to increase signify incoming volatility.
H&S neckline price range is 23% to downside before finding support with Selling Climax and range bound
Tighter SL can be imposed because the thinking was the selling should be very strong after huge bull run coincide with the rare earth material war that accuse China having all the deposits, triggering a spike of price (up 5x in a year) followed by a continuation of bull run and now its over. Media and the composite man (CO) has done their job so now we SELL together with CO.
Teepee distribution.
Short term- bearish, Long term- bullish
H&S neckline price range is 23% to downside before finding support with Selling Climax and range bound
Tighter SL can be imposed because the thinking was the selling should be very strong after huge bull run coincide with the rare earth material war that accuse China having all the deposits, triggering a spike of price (up 5x in a year) followed by a continuation of bull run and now its over. Media and the composite man (CO) has done their job so now we SELL together with CO.
Teepee distribution.
Short term- bearish, Long term- bullish
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