The Lithium & Battery Trade is Recharged 🌤️ The Morning Print
Good morning!
The Lithium & Battery ETF has spent the last several months digesting its gains off last April's lows.
Let's take a look.
Lithium related stocks have been the beta within the broader commodity trade.
They're also part of the alternative energy theme that has attracted significant attention over the past year.
After doubling from last April's lows, the group has been working through these gains and holding near the 61.8% Fibonacci retracement level.
On a relative basis, $LIT is setting up to complete a multi-year reversal pattern versus the S&P 500.
This setup suggests lithium may be quietly transitioning back into a position of strength.
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