$UUUU forming a monthly lower high? To see lower prices ahead.

benjihyam Updated   
AMEX:UUUU   Energy Fuels Inc
I know everyone wants to be bullish uranium, but to me the chart doesn't looks as great as everyone thinks it does.

$UUUU looks to be forming a monthly lower high, which could setup a move back down to $2.48 over the next year or so.

First stop on a move down would be $6.11, then $4.46, where I think we'd find shorter term support.

Then longer term over the course of the next year, I can see $UUUU heading back to the range it broke out from.

Let's see what happens.
Now that we're at the support of the structure, will the structure break to the downside? My vote is yes. Still think we see $6.11 and potentially a low of $4.46 if we get an extreme move down.

Even if there's a pop on earnings, the trend is down.
Yikes, already broke the $6.11 support. $4.46 is next. Now down 40%+
This chart still looks ugly as ever. $2.48 still coming soon...


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