LYC - LYNAS - rare earth anti chinese monopoly playLYC - LYNAS - rare earth anti chinese monopoly play
as the title says, china is once again applying restrictions like they did in 2010, low and behold we have the same price structure!
these plays are cyclical for sure. they sorted their Malaysian issue recently, at least for awhile. i expect their move back to Australia will be facilitated by the western powers that be that are looking for independence in their important metals supply chain.
Lets see how this plays out.
"The Ministry of Commerce’s announcement on Monday is the
latest move by the People’s Republic to leverage its dominant
position mining and refining rare metals. It did so in 2010
against Japan over a territorial spat, enacting an unofficial,
temporary export embargo against the 17 metallic elements that
comprise the rare earths family. It also manipulated the market
through export quotas and other policies, which held down global
prices – deterring investment by miners overseas - while pushing
local firms up the value chain. "
Lycusd
LTC in 2019LTC is month line old duck head trend, of course, seasonal old duck head more obvious to see this trend, so, I think September is a shocky trend, October began to index-level surge, November continued to surge, December stagnation. It is expected that December 14 will be the last few days. And to Da moon. And go die
LTCUSD bullish above $85.00Litecoin is holding above major technical support in early Tuesday trade after the sixth largest cryptocurrency by market capitalization was rejected from just above the $100.00 level. If LTCUSD bulls can hold price above the $85.00 level another test of the $100.00 level seems likely. Overall, the bullish inverted head and shoulders pattern on the four-hour time frame still has an upside target of at least $130.00.
The LTCUSD pair is only bullish while trading above the $85.00 level, key resistance is found at the $100.00 and $130.00 levels.
If the LTCUSD pair trades below the $85.00 level, key support is found at the $77.00 and $70.00 levels.
The situation still looks bearish in general Litecoin has lost nearly two percent in the past 24 hours. The situation still looks bearish in general as LTC price has ended its deep correction and seems to retake downside direction. We have redrawn the red midterm descending trend line as the situation has changed. Bearish midterm scenario is still actual.
Let’s see what is happening on the hourly chart within the Fibonacci retracement. LTC price is close to 0.786 retracement level, which gives support to LTC/USD in the moment of writing. The currency pair has broken through the green ascending trend line and crossed several retracement levels as well as two support areas at $135.90 and $132.88.
The possible scenarios for Litecoin are the following:
1. LTC/USD will develop its downside progress and break through 0.786 retracement level. Sellers will have an opportunity to push the currency pair even lower towards the next support area at $129.79, which coincides with one retracement level.
2. The currency pair will jump off 0.786 retracement level and run upwards. The closest resistance area lies at $132.88. If buyers break it through, they will be able to drive the currency pair even higher towards 0.618 and 0.5 retracement levels. The next resistance area is at $135.90. It coincides with 0.382 retracement level.
3. There will be no significant changes in fluctuations.
Check the full crypto analysis HERE