fyi: I'm long uranium: fundamentals and commodities bull run fyi: i'm still learning TA and looking at Elliot Waves.
This negative divergence looks like it could be heading into the the first ABC of a much larger wave 2 that will top on wave 5. (just my uneducated opinion) Also, distance for 50MA is frothy. Also, gap. (gap is a multi year resistance that could act as support now) Also, sentiment is frothy. Also, components of this fund are showing similar patterns. Also, gap at .38 retrace of entire move (larger cycle Wave 1... whatever its called)
Again, not bearish U308, HURA.T for me on the BTFD's.