GLN CHART THREAD

[taofufa]

I was listening to the webinar last week, "according to JP" stage 1 DFS should be in days no more than weeks, sounds like no OTA before the permit as he stressed that it is comes with a better bargain power if we got permit in hand, permit expected in June, so hopefully OTA not soon after? Drilling result - pending on lab result and doesn’t sound like he's interested in any TO at all. \

IMO

 

[BEISHA]

I was listening to the webinar last week, "according to JP" stage 1 DFS should be in days no more than weeks, sounds like no OTA before the permit as he stressed that it is comes with a better bargain power if we got permit in hand, permit expected in June, so hopefully OTA not soon after? Drilling result - pending on lab result and doesn’t sound like he's interested in any TO at all. \

IMO

WEEKLY CHART

Unfortunately, stage 1 DFS didnt really create a spark for the SP, even tho the numbers looked very impressive.

Sub wave 4 down still playing out, but indicators have flattened right out, so hoping 87 support holds, cause if it doesnt , next support line is 62c.

DAILY CHART

You can see a bit more clearly accumulation forming on that 87 support line, RSI 14 forming a positive trend & MACD on the rise too.

Lets hope that trend continues, leading up to the full DFS release.............when will that be ? August ?

I wonder if GLN will announce some offtake partners in the latter half of this year ?


imo

 

[Sparrowhawk12]

View attachment 40096
WEEKLY CHART

Unfortunately, stage 1 DFS didnt really create a spark for the SP, even tho the numbers looked very impressive.

Sub wave 4 down still playing out, but indicators have flattened right out, so hoping 87 support holds, cause if it doesnt , next support line is 62c.

View attachment 40098

DAILY CHART

You can see a bit more clearly accumulation forming on that 87 support line, RSI 14 forming a positive trend & MACD on the rise too.

Lets hope that trend continues, leading up to the full DFS release.............when will that be ? August ?

I wonder if GLN will announce some offtake partners in the latter half of this year ?


imo

Maybe I'm glass 1/2 empty today but I thought DFS2 is due Sep-23 not Aug-23. Until BEOT sees DFS2 I suspect we'll not see lift in SP and I think OTA will happen after DFS2. IMO. Br Sparrowhawk12.

 

[BEISHA]

WEEKLY CHART

A new low has formed with sub wave 4 down ( 81c )...........need a reversal from here or 62c beckons.........surely not hey ?

HOURLY CHART

Could this chart finally be the pivot for the commencement of sub wave 5 up ?

Next week will reveal more.

imo

 

[BEISHA]

Alot of touches on the 74c line............is that the bottom ?

A break of 80 resistance to the upside needs to happen , for me to feel alot more confident that a change of trend is on the cards.

Next week will reveal more.

 

[BEISHA]

Blue bubble is suggesting a bull flag pattern ........or is it just another slight correction up before the bearish long term trend continues ?

NFI yet, next week will reveal more.


imo

 

[Sparrowhawk12]

Hi @BEISHA & @taofufa
Its gone v quiet on HC re GLN ... and v few post GLN on TSE. Where are ppl discussing GLN?
Surely GLN will rise soon with BFS-2 due out in late Sep-23 and probably OT Ann by Christmas-23?
Great resource. Why is no-one talking about it much any more?
Br Sparrowhawk12

 

[BEISHA]

Hi @BEISHA & @taofufa
Its gone v quiet on HC re GLN ... and v few post GLN on TSE. Where are ppl discussing GLN?
Surely GLN will rise soon with BFS-2 due out in late Sep-23 and probably OT Ann by Christmas-23?
Great resource. Why is no-one talking about it much any more?
Br Sparrowhawk12

GLN is a bloody good resource, but unfortunately its in the " orphan " cycle of a mining coy and has been in a SP decline for over 18 months........

Maybe thats the reason why there hasnt been alot of chat going on.......

That being said, maybe there is some signs of a reversal going on with the daily chart....

A break of the 80c resistance would get me a bit more excited....

Next week will reveal more.

 

[BEISHA]

If i am going to be convinced of a change of trend with GLN, need to see 74c resistance broken at the very least, it tried this week and failed, will next week be successful ?

Good support developing at 70.

 

[BEISHA]

Fuck me, a new low was formed on thursday ( 63c ), but a nice bullish maruzobu candle followed suit...

Could we have finally seen the low ?

A break of 70 / 74 resistance is required to excecute a trend change.

Stage 2 DFS due this month, surely a bit of FOMO must catch on eventually...


Not much more to say.

imo

 

[BEISHA]

View attachment 44792

Fuck me, a new low was formed on thursday ( 63c ), but a nice bullish maruzobu candle followed suit...

Could we have finally seen the low ?

A break of 70 / 74 resistance is required to excecute a trend change.

Stage 2 DFS due this month, surely a bit of FOMO must catch on eventually...


Not much more to say.

imo

And the slide continues..........

Sub wave 4 down can go as low as the height of sub wave 1 up and its achieved that now with a new low of 62.

Needs to hold and rise from there, or it could fall to the next support line @40.8c...........surely not.

Historically when RSI 14 hits the oversold 30 brown line, it invariably goes for a run up from there, so.........

See what happens next week.

Painful hold.

imo

 

[BEISHA]

Well, i gotta say, GLN chart looks alot more promising.

Indicators bullish, above average volume, the only question i have ...is minor sub wave 4 down complete ?

Or is there another leg down to 66 support ?

Dow down 280+ points Friday night, so probably the latter equation, but....who knows.

imo

 

[BEISHA]

View attachment 47647

Well, i gotta say, GLN chart looks alot more promising.

Indicators bullish, above average volume, the only question i have ...is minor sub wave 4 down complete ?

Or is there another leg down to 66 support ?

Dow down 280+ points Friday night, so probably the latter equation, but....who knows.

imo

"is minor sub wave 4 down complete ?"

Thats what i asked myself last week and the below chart gave me the answer , it wasnt and it dropped well below the 66 support which is now resistance.

But i am now confident the blue bubble highlights are now the pivot for sub wave 5 up action.

Triple convergence 4, 8 , 21 MA is a good sign, plus other indicators look to be curling up and i also believe the Dow is turning to a bullish uptrend....up another 200+ points on Friday night

Next week should be positive for GLN based on that info.

imo

 

[BEISHA]

"is minor sub wave 4 down complete ?"

Thats what i asked myself last week and the below chart gave me the answer , it wasnt and it dropped well below the 66 support which is now resistance.

But i am now confident the blue bubble highlights are now the pivot for sub wave 5 up action.

Triple convergence 4, 8 , 21 MA is a good sign, plus other indicators look to be curling up and i also believe the Dow is turning to a bullish uptrend....up another 200+ points on Friday night

View attachment 48828
Next week should be positive for GLN based on that info.

imo

Lithium spot price continues its spiral, applying more pressure on lithium producers and aspiring producers in the orphan category, that being GLN.

Indicators are still negative, SP below 21 ema and has dipped below 60 support, looks to me the low of 55c might get challenged, once again...

imo

 

[BEISHA]

Hi All

Well, SP did back test the 55 low, but then some inside info fomo kicked in and then lo and behold, a massive announcement drops, GLENCORE is a major offtaker !

SP kicked in a gear and gapped up to hit 90 resistance, since then , gap closed, will 70 support hold ?

Who knows, lithium spot price still tumbling.....

Failure to hold at this major support line, then things just get uglier for the lithium sector.

imo

 

[BEISHA]

Lithium spot price continues its land slide..........GLN follows suit.

Will 64 support hold ?

If not, then all time lows will get challenged.............once again..

Lithium sector sentiment is fucked atm.

imo

 

[BEISHA]

Lithium spot price continues its land slide..........GLN follows suit.

View attachment 50609

Will 64 support hold ?

If not, then all time lows will get challenged.............once again..

Lithium sector sentiment is fucked atm.

imo

Unfortunately 64 support didnt hold and GLN made a new low, but could those blue bubbles highlighted below be the pivot for a swing change ?

4 touches now coming off the 56 support.

I have noticed a change in sentiment with the leading lithium producers, will GLN follow suit ?

A break of the 64 resistance ( which was support ) would be telling.

imo

 

[BEISHA]

Unfortunately 64 support didnt hold and GLN made a new low, but could those blue bubbles highlighted below be the pivot for a swing change ?

4 touches now coming off the 56 support.

View attachment 51771

I have noticed a change in sentiment with the leading lithium producers, will GLN follow suit ?

A break of the 64 resistance ( which was support ) would be telling.

imo

Unfortunately SP couldnt hold at 56 support, created another low at 47......beggars belief.

Anyway, its bounced off 47 nicely, indicators look alot more positive, 4ema is crossing 8 ema, a break of the 57 / 65 resistance zone, would give me confidence that the long , bearish trend is finally over.

imo

 

[BEISHA]

@Sparrowhawk12

Weekly Chart

SP is now sitting on top of a very strong support zone, RSI 14 over sold, every time it hits that level it reverses, cant rule out a drop to 20c, but considering lithium sentiment is on the improve, cant see it happening.

DAILY CHART

Heiken ashi candles flattening out on top of that support zone, RSI 14 is 16, massively over sold, a bounce is due, now if 35 resistance breaks to the upside, i reckon the bottom is in , with little resistance to 55.

i sold out most of my holdings around the high 80c, so i am looking for a big top up once 35c is broken to upside.

imo

 

[Sparrowhawk12]

Thanks Beisha. I agree, way oversold despite all problems. Wife agreed to measly 2k yesterday so buying asap this week. It’s a start, in the right direction .
Br Sparrowhawk12