Uranium has plenty of Momentum moving forward in the larger timeframe. As we look at the weekly chart we can see that the 20MA is about to cross the 50MA. While on the daily the 50MA was acting as support.
$262 is acting as support and a bounce off that would keep the momentum going, though $257 is another possibility.
In the short term a small drop is more likely when you look at where the RSI and Stochastic RSI is placed. It is also hitting a large resistance area and this would be the 4th time trying to break it.
Taking a position in uranium with 3 Aussie Stocks is where I have placed my bets and see how it plays out, but has a great outlook.
$262 is acting as support and a bounce off that would keep the momentum going, though $257 is another possibility.
In the short term a small drop is more likely when you look at where the RSI and Stochastic RSI is placed. It is also hitting a large resistance area and this would be the 4th time trying to break it.
Taking a position in uranium with 3 Aussie Stocks is where I have placed my bets and see how it plays out, but has a great outlook.