We look to be completing a short term corrective wave here, turning long term resistance into support coinciding with URNM finding support at the .382 Fib Retracement level last week. While I don't love this recent week's candle I'm not too concerned and will look to top up should we touch the .5 and .618 Fib Retracement levels over the next week or so.
Price targets for the next move up marked at the top of the channel and would anticipate once either of those are reached we find support around the circle on the lower band of the channel which sits between the .382 and .618 of both upper targets.
I believe we are at a similar point in this move to around November - December of 2020 seen below:
Exciting times in the Uranium sector from a Macro perspective with more and more reasons to be bullish every week. Spot price is heading up and word on the street is Utilities are aware and expect around $100 per lb in the not too distant future.
Price targets for the next move up marked at the top of the channel and would anticipate once either of those are reached we find support around the circle on the lower band of the channel which sits between the .382 and .618 of both upper targets.
I believe we are at a similar point in this move to around November - December of 2020 seen below:
Exciting times in the Uranium sector from a Macro perspective with more and more reasons to be bullish every week. Spot price is heading up and word on the street is Utilities are aware and expect around $100 per lb in the not too distant future.