$UUUU breaking out?
UUUU has been trading within this long-term range for 2.5 years or so. The EMAs confirm a range bound environment. It may be printing a higher low/back up after s sign of strength, if this was to be considered a Wyckoff re accumulation range. Narrative around the uranium industry is slowly changing globallly and becoming more positive. People are also becoming more aware of the uranium supply/demand imbalance which is looming.
Would look for a weekly close above $8 to help us confirm this is a breakout, higher volume would also be a confluent factor.
Would look for a weekly close above $8 to help us confirm this is a breakout, higher volume would also be a confluent factor.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.