URA LONG - Buy the dips
Updated
Maybe u have allready heared the good news for Uranium.
This is great for Supply/demand plays.
Technically this looks great aswell. After a prolonged bear market in Uranium, things are changing.
It broke its long term downward trend on 9 November.
Pulbacks should be welcomed and are buying opportunities.
Key resitence are 16 and 19.24. I used Fibonacci to calculate possible resistence levels.
Not to forget URA gives a DIVIDEND off 6 - 7%!!!!!
- Cameco CCJ has shut down its largest mine. This accounts to 10% of global Production. Together with another cut from other companies this totals 15%!!
- France was going to stop relying on nuclear power. It came back on that promise and will continue to build nuclear power facilities.
- Asia has a massive buildup in nuclear power plants. Japan will soon re-open its nuclear power plants.
This is great for Supply/demand plays.
Technically this looks great aswell. After a prolonged bear market in Uranium, things are changing.
It broke its long term downward trend on 9 November.
Pulbacks should be welcomed and are buying opportunities.
Key resitence are 16 and 19.24. I used Fibonacci to calculate possible resistence levels.
Not to forget URA gives a DIVIDEND off 6 - 7%!!!!!
Note
A mine in kazachstan also shut down to cut down production - to move towards a balance in supply/demand. In total 20% of production has been cut.URA trying to break his first support @ 16.00. It could retest that 16.00 along the way up.Then it might break out to its previous high off 19.30. After that the doors are WIDE OPEN.
Trade active
16 has not been breached. some nice buying opportunities now.
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