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URA $38 Is that you over there?
URA MSb on daily
URA A bearish shark pattern could emerge at 27.28. This pattern pops up at the 161.8% Fibonacci extension of the most recent downward move between the fractal resistance forged at 23.86 and the most recent support forged at 18.31. A pullback/retracement may occur after its formation. It is important to remember that this shark pattern can also manifest at the 224% Fibonacci extension projected at 30.75. In reality, the pattern could show up at both Fibonacci levels and trigger downward movement once it is completed.
It is crucial to note that IF there is a potential for an upward movement that puts the asset back over the resistance established at 23.86, it may be the start of a further prominent upward movement.
