Falling Wedge- Bullish
Updated
After finally retracing, the lithium sector is starting to look ready to breakout with buyers starting to step in. Watching LAC & PLL closely here as both are holding massive falling wedges, however, PLL is seemingly forming an ascending triangle as well on its weekly timeframe (See Attached Chart Below). Additionally, PLL is holding the same falling wedge on the 4-Hour timeframe with its Bollinger bands squeezing, along with a Bullish Butterfly Harmonic Pattern, MACD golden cross. Bullish and will be looking for a breakout from this wedge (Broader Market Conditions Permitting)- Just some support and resistance levels to keep an eye on along with some RSI-based supply and demand zones in the meantime -- Price Targets & Previous Charts Attached In Description --
PT1- $56.12
PT2- $58.74
PT3- $60.07
PT4- $61.26+
--Weekly Timeframe--
https://www.tradingview.com/chart/PLL/mkXa6DAi-PLL-Weekly/
--4-Hour Timeframe--
https://www.tradingview.com/chart/PLL/zXy5eSpb-Falling-Wedge-Bullish/
PT1- $56.12
PT2- $58.74
PT3- $60.07
PT4- $61.26+
--Weekly Timeframe--
https://www.tradingview.com/chart/PLL/mkXa6DAi-PLL-Weekly/
--4-Hour Timeframe--
https://www.tradingview.com/chart/PLL/zXy5eSpb-Falling-Wedge-Bullish/
Comment
Strong Resistance circa $54.72Trade closed: target reached
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