Uranium is poised for a move. Charts show demand is ramping up and supply is slow to catch it as world leaders slowly catch on to it's inevitable necessity. As long as commodities hold up, URA should stay on trend and begin to take it's next leg up from the bottom of the channel.
Should prices break down, it could mean a plunge lower to the fib retracement levels. Sooner or later though, the yellow cake wants to go to 66
Should prices break down, it could mean a plunge lower to the fib retracement levels. Sooner or later though, the yellow cake wants to go to 66
Trade closed: target reached
Bottom was around the 0.618 fib at just above $19 The top looks in for now, although, a run to $100 is in the cards eventually.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.