URA failed to make a higher high and got smashed at the .786 fib at $28.25. Weekly Money Flow and Momentum coming down. URA will hit the 1 fib at $17, and most likely the .618 retracement at $12.
Fun Fact: Despite Elon Musk's endorsement of nuclear energy, just focusing on Electric Vehicles, there is a metric called the "Wells-to-Wheel variable" that measures the efficiency of different sources of electricity towards greenhouse gas emissions. Higher number the better for the environment. Coal and Natural Gas are the leading sources of electricity with Wells-to-Wheel efficiencies of 0.26 and 0.24 respectively. Nuclear Energy comes in at 0.21. Nuclear Energy comes in worse than coal, the dirtiest fossil fuel.
I noticed some Uranium explorers took advantage of this massive pump and diluted shareholders to raise capital.
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Yearly VWAP turning from support into resistance
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Super Uper Buber Bullish Monthly MACD Cross... to the downside
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Apparently, there was super duper bullish fundamental news concerning the future of uranium. Cool story, but price quickly got rejected at the .618 fib. Currently testing the neckline of the head and shoulders pattern. Once the neckline breaks, URA should see $16 soon imo
Idk dude I don’t think a single chart can describe the complexities of green energy
GeorgeTurpin
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@andy441 yeah hahaha nuclear energy is quite literally the answer that has been staring at us in the face for years, but naturally we choose to ignore it
@CrashWhen sorry that's not what that study says. It's essentially saying that EV's are generally inefficient compared to IC's because of all the power lost during production, transmission, and battery storage. It's not clear why the authors considered nuclear inefficient in terms of generation but they clearly said it was a green energy source and EVs make sense in countries that generate a large proportion of their energy from nuclear.
CrashWhen
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@ChartMeNot, I believe the author dedicates the inefficiency of nuclear energy to the conversion efficiency of nuclear energy to electricity. Yes Nuclear Energy is a green energy source, and yes the transition from ICE-EV's is a must. Only problem I have with nuclear energy are the indirect emissions that come from nuclear power plants. The continuous mining and refinement of uranium is not emission free. Most companies just focus on their scope 1 direct emissions on site, and ignore indirect emissions. Just putting this into perspective, from 1995-2015, Scope 1 Direct Emissions have gone up 47% as opposed to 78% and 84% in Scope 2/3 (Both Indirect Emissions). That being said, this implies to even Tesla and their acquisition of lithium ion batteries for EV construction which is not emission free.