Uranium ETF (URA) is firing on multiple indicators today after news of House committee approving bill to ban Russian uranium imports
- MACD Cross on weekly chart
- OBV continues upwards trajectory
- Pennant forming above 200 week SMA
- 0.618 fib level is $45 (100%+ opportunity
There is gap target of $111-$98 dollar this is quite the massive gap down after the Japan incident in 2011 that has not been retested this would be my short term target. However I will also be quite bullish beyond that target as a long term hold.
The race to reduce carbon emissions by 2050 is on. Uranium being one of the top runner up and The biggest in capacity holding of energy holds my number one spot in this new energy transition and I will show you why below.
AMEX:URA current environment
1.Market Response to Production Shortfall
- The news of Kazatomprom potentially cutting its 2024 production...
URA ETF is close to second level breakout
daily chart shows a breakout already.
monthly chart is at resistance but can move higher
in the next month. Cup and handle pattern
has formed on the monthly chart.
Electric cars will need to be charged and BYD is
going to overtake Toyota and Volkswagon in the next
decade.
While the empire was busy occupying,
China was...
Looking at the chart, we've just formed a high timeframe double top. Unless price can break resistance and confirm it as support, price is heading down.
Based on the structure of the chart, if the midline gets broken at $18, the target of the move should be sub $10. Hitting the lower supports around $6-7.
If we get down there, that should setup a great...
Chart trading can be done on ANY time frame. Just understand the pros and cons associated to each.
Meanwhile, uranium miners trying hard to vacuum back up!
#cameco #ura #uranium #miners
with supply limited and regulated
investors in RADiOACTiVE Marterial
shall be rewarded big time
developing nations
are running out of coal
and oil being regulated to the highs by Russia and Arabs make it
difficult for new nations to keep up with demand for energy
MOEX:BR1! Brent Oil
Head & shoulder pattern forming although pattern is not yet complete. we need to see how the right shoulder is forming and a break below 73.50 will trigger the head and shoulder breakdown.
But i guess OPEC wil not let it come this far and tighten their production before this.
High time frame perspective.
Down trend unwinding complete.
Basin formed and resulted in capitulation wick.
Reclaim range low level = good.
Descending triangle resulted in bullish breakout.
Bias is northward.
The blue bar projection is less of a prediction and more of a possibility. It is the previous primary trend decline flipped around but equal in price and time scale.
URA experienced a long term primary down trend since opening for public trading.
From 2016-2021 the primary downtrend turned into a multi-year basing, which was broken out of bullishly in 2021 and...
URA in a 3rd wave and could possibly have topped here at the 28, but it also could be setting up higher for a 5th wave finish 32-36 area.
When I first looked at it, I saw the possibility of a great buying opportunity in the $14-16 area if things break down.
Right now I think we need to hold the $24-22.5 area to keep this bullish move upward. Otherwise the...
I am super bullish on AMEX:URA medium and long term but believe the share needs a pullback to back test the breakout, complete the wave 4 before going nuclear on wave 5. Note the divergence on the RSI - lower lows lower highs - and MacD flattening. I expect a fairly shallow pullback to the 0.38 Fib at $24.78
