Uranium Preparing for an 80% Move Upwards
The SPROTT Physical Uranium Trust
U.U
is showing a triangle formation on the daily chart. There is a number of reasons why I am inclined towards higher Uranium prices:
1. Rising inflation.
2. Rising commodity prices.
3. Supply chain problems (although doesn't apply to Uranium that much).
4. Energy Crisis!
5. The world starting to see that Nuclear energy is the proper choice forward until we can transition to fully renewable energy infrastructure in 50 years or more. (this one will not affect price soon of course).
6. Uranium is not expensive as fuel at all. It costs only 5% of the annual expenditure of a nuclear plant. So price has a lot of room to go up before it's considered too expensive.
7. We have a Physical Uranium Trust now. So the market has direct exposure to physical uranium that was never there before.
With all that, the move hasn't yet been confirmed because we haven't broken the top of the triangle yet. Keep watching this post as I update it. If you are interested in this trade, set up an alert on TradingView and follow me for an update for my trade setup.
U.U
is showing a triangle formation on the daily chart. There is a number of reasons why I am inclined towards higher Uranium prices: 1. Rising inflation.
2. Rising commodity prices.
3. Supply chain problems (although doesn't apply to Uranium that much).
4. Energy Crisis!
5. The world starting to see that Nuclear energy is the proper choice forward until we can transition to fully renewable energy infrastructure in 50 years or more. (this one will not affect price soon of course).
6. Uranium is not expensive as fuel at all. It costs only 5% of the annual expenditure of a nuclear plant. So price has a lot of room to go up before it's considered too expensive.
7. We have a Physical Uranium Trust now. So the market has direct exposure to physical uranium that was never there before.
With all that, the move hasn't yet been confirmed because we haven't broken the top of the triangle yet. Keep watching this post as I update it. If you are interested in this trade, set up an alert on TradingView and follow me for an update for my trade setup.
Trade active:
This short-term trade is on based on the smaller triangle being broken upwards. The trade is not that lucrative in terms of Reward-Risk Ratio. If the week closes above the bigger triangle, then the bigger trade is on.
Trade closed: target reached:
The smaller trade target has been reached. Now I anticipate a re-test of the top of the triangle for a setup to the bigger trade for 80% move up.