Wednesday, September 3, 2014

Bullish Uranium

Uranium ETF (URA) has just managed to go above a descending resistance trendline (black) from March this year and is now confined inside a triangle (blue lines).We believe that URA is going to break out of this triangle soon and move fast towards 16,5.Critical price level for bullish scenario to materialize is 15,5.

Our longterm view for URA is that it is forming a saucer type bottom (