$URA Prolonged consolidation or bullish bias?Fundamental - uranium has declined in price from its inception because of simple supply and demand. URA has now been in a consolidation pattern since 14 Oct 2015. Supply have meet demand in the zone of primarily 11.57 to 16.31. The bullish bias comes from uranium miners first making profit when price reaches 20. Therefore some uranium miners have been shutting down their operation until a price hike. Japan could be opening new facilities to enrich they energy supply to the mainland after they haven been open to it in public forums.
First trade
A rise over 16.31 makes a bullish entry with a stop loss at 11.57 and TP levels at 20 and 23.93 (support and resistance levels formed before consolidaton formation).
Second trade
TSI supports short term bullish momentum and entry on the price now and sell if it doesn`t break 16.31!
