There will be a “sharp correction” in lithium prices, with the metal averaging under $54,000 a ton this year, down from a spot price of over $60,000. It will fall further to an average of just over $16,000 in 2023, the Wall Street bank said.
Goldman calling for downdraft on Lithium (as seen in the paragraph above) shows a disregard for the setup of a bull flag on the Lithium ETF weekly chart. Also, Nickel looks ready to rally again.
$LIT Lithium looks ready to break out from weekly chart bull flag yet Goldman warns this in a Bloomberg piece.