Liberty Star Uranium and Metals Corp (LBSR)

[Hurricane_Rick]

We're currently trading in a downward channel that is essentially defined by the lower bollinger band (.0342 right now) and the middle bollinger band or 20MA (.0437). The share price is trading at the upper part of that channel which makes it "feel" like we have a nice base. IMO, the base hasn't been tested and supported yet. We are also banging our head against the 200MA which is .0422. The MACD has crossed over, so that indicates an initial reversal signal. However, we need some confirming signals before calling a reversal.

So having said that, we need to push and close confidently above .0422 and .0437 on strong volume in order to break out of the downward channel. If there is follow through on that move and not a regression like what happened in early August, then we can transition into a bullish reversal. For the time being though, we're still fighting the current of the downward channel.