Uranium producers ETF (URA) is forming a long term saucer bottom (in fact it seems we are in the very bottom of this process).
Weekly chart: we can notice the following bullish signs:
1. A transient breech of 50 SMA(weekly)(blue cycle)
2. Increased volume since the begining of 2014(green cycle)
3. The price bounced twice at 14$
4. 20 SMA is trying to stay above 50SMA
Daily Chart:We can see a clear diamond pattern(Green).Diamonds are either continuation or reversal patterns.
Bullish Scenario (we favor this scenario)