This investment idea is not written for the ethical investors among us. ;)
Nevertheless, I would like to show you the possible reversal in the uranium miners trend.
The monthly chart clearly observe bullish divergence (incl. Falling wedge). In addition, an inverted hammer is formed this month. If the bottom is set, then I see a lot of upside potential for the URA...
After a 20% drop, bulls will likely gain momentum within the next 1-3 months. Still some downward pressure is present, causes by the formed Head-Shoulder pattern. On the longer term GDX is a strong buy. Should the price drop below $12.50 (weekly), then this strategy will deteriorate significantly.
