Thursday, October 9, 2014

Uranium and Crude update

Uranium (URA) after breaking down from its support line at 14 is now moving fast towards 11,5 where we believe that there is a good possibility for a bounce towards the descending trendline at around 13-13,5 or even a push towards 15.

Crude Oil ($WTIC) is in a clear medium-term downtrend.It didn't manage to break above 95 and is now moving towards 84 where we think it will bounce towards  88.If support at 84 fails then next target for crude will be 77,5 where there is strong support.