micahjmiller
Long

Uranium, A Closer Look at the Commodity Price

NYMEX:UX1!   Uranium Futures
A few days ago I put out analysis on the Uranium miner ETF AMEX:URA . This ETF is probably the best way to get involved in the Uranium price action and stay diversified. But I wanted to take a look at the commodity price, as this will be the driver of new and existing mines opening up and miners increasing their profitability. The price can also give insight to whether the public is ready to start demanding Uranium and increase it's use as an energy source.

If you're looking for a more detailed article on Uranium, you can visit AssetGuild.com.

But here on TradingView, we will focus specifically on price.

The price of Uranium has been in a deep depression for 11 years. It safe to say it might be the most hated market in existence. This fact alone is why I'm giving it a closer look. Overall, the price is down 80% since it's highs.

What's worth noting, is that UX1! has broken out of a long existing triangle pattern and is looking like it might be in the process of forming a bottom.

Uranium has been quickly breaking above it's moving averages and holding healthy support on the 100 and 200 MA.

The 100 has now crossed the 200 as well.

We are now making new 2 year highs which is a promising note. The key here is that price holds support around the $26 range and on it's moving averages.

Though volume is still low, this price action may be a signal for interest coming into the Uranium space.

Feels good to be watching things develop at such an early stage.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Get Help Ideas Published Followers Following Private Messages Chat Sign Out