U.UI'm long several uranium miners right now as i am seeing a massive bullish reversal in play so of course i had to add physical uranium to my stack . Nice bullish flag looks ready for a breakout here .
U.UN trade ideas
Uranium Long Analysis - Cup and Handle, Elliot wave analysisUranium appears to have finished it's larger, intermediate degree correction.
Additionally, uranium has broken out of what seems to be a massive cup and handle pattern.
Expected price within the next decade is likely to exceed 200 dollars/pound.
Expect some more consolidation before a large move higher.
Watch video for more details.
Uranium update August 2024- Where are we in the cycle? • The overall stock market has experienced a liquidity crisis due to the Japanese Yen Carry Trade, which has caused significant weakness. Recession fears and market uncertainty surrounding the US election, along with concerns that Federal Reserve rate cuts may come too late, combined with rising unemployment and escalating conflict in the Middle East, have further exacerbated the situation.
• This has severely impacted uranium stocks, causing substantial technical damage to the equities.
• Markets are expected to remain incredibly volatile until November, when there may be more clarity regarding the economy, the election, and interest rates.
• Despite this, markets are likely to continue climbing the “wall of worry” into the new year.
• Market sentiment is extremely fearful and bearish, which can be interpreted as a bullish signal.
• The markets appear to be on the cusp of a new liquidity cycle.
The Sprott Physical Uranium Trust is currently in a multi-year accumulation phase, characterised by a 7th wave correction forming into a falling wedge pattern. During the last bull run, Sprott experienced a similar 7th wave correction within the accumulation phase, which was merely a flush-out before a significant upward move. This correction was nothing more than an Expanding or Flat correction. CCJ and PDN experienced similar flat corrections in the last bull market, and this could be a similar pattern but on a larger scale.
Sprott Physical Uranium Trust - Ascending Triangle Winning Sprott Physical Uranium Trust $SRUFF
✅ 41% increase since entry @ ascending triangle
breakout
🎯 Target remains 0.618 Fib Ext at $30.00
❌ Stop Raised to $20.00 guaranteeing 23% profit
I may exit this trade earlier if diagonal is breached.
Had a much larger entry planned for green zones, never happened. Thats ok though, thats why initial position size was small, so this trade is only a small win.
PUKA
Sprott Unanium Trust (SRUUF) formation of ascending triangleSRUUF has pulled into the gas station for snacks before lift off. It's formation of an ascending triangle is bullish. It's just hit the lower side of the buy wall formation. it clearly has a sell wall around 25.07 and an ascending buy wall causing price to coil up. Breakout coming soon.
U.UN in Textbook ConsolidationU.UN is in a textbook consolidation now, still en route to $37.52, as long as it does not drop below the 38.2 % - Fib imho.
U.UN long all the way to $37.52Update: The confluence the horizontal resistance zone and the rising wedge broke to the upside. It looks like that the uptrend might be continued despite bearish signals. Price seems to be on its way to $37.50. The train is leaving the station. Those who still want to catch it, should jump on it now.
Big Move for Sprott's Physical Uranium Trust ahead if ... .Sprott's Physical Uranium Trust did it finally:
It broke out of the confluence formed by a horizontal resistance zone from Oct. 07 and the bearish wedge to the upside. The new target now is high from April 07.
However, there's some water in that wine:
The breakout is not really supported by volume and the daily chart shows that momentum has been fading for a while now. So a direct continuation of the recent rally becomes more likely if volume picks up next and we see some decently sized green candles immediately following the current one so a bearish divergence (e.g. in the MACD) can be negated rapidly now. If not, a pullback down to CAD 25.20 or 22.60 becomes more probable to me. Things become bearish if price drops below 22.60. Below that, price might tank further down to 20,20 and even 18.00. If that happens, something must have changed fundamentally, so I don't know where things could go from there.
Strategy idea how to play this:
One could remain bullish until 22.60 and regard CAD 25.20 and still 22.60 as buying opportunities. However, one should seriously consider putting a Stop Loss below 22.60 in the weekly chart. If someone doesn't own U.UN yet: One could enter with a fraction of the intended position now to get a foot in the door, see if the pull back happens, and buy the other fraction(s) once the pullback targets might be be reached.
Is Sprott's Physical Uranium Trust strong enough? If U.UN manages to keep its current strength a new buy signal will be generated once it will have cleared CAD 28. If it finally succumbs to the bearish rising wedge and its confluence with the current resistance zone between CAD 27 and 28, one could try to get in cheaper between CAD 25 and 25.50. The situation would turn increasingly bearish at CAD 24.75 and below in my opinion (assessment based on the daily chart).
Uranium: One last climb 🧗♂️Uranium has now reached our orange Target Zone between C$26.86 and C$28.77. According to our primary expectation, this is the area in which we locate the high of the green wave (B), which is why the price should now make a small final rise before reversing. Subsequently, a pronounced sell-off is then on the cards with the green wave , which should reach the support at C$12.17.
Uranium: Final Breath 💨As part of the green wave (B), physical uranium recently experienced a small setback, but the short-term upward structure remains intact. We need to give the upcoming corrective rallies more room to the upside, which should be followed by a strong sell-off in the course of the green wave (C).
Sprott Physical Uranium Trust Shaping upSprott Physical Uranium Trust - $SRUFF
Chart Really Speaks for itself
A nice ascending triangle with ideal entry opportunities for the patient.
Will follow up if we trigger and ideal entry
PUKA
Uranium: Ready for the drop💣The price of uranium has moved significantly higher over the past few days, approaching the expected high of the turquoise wave 2. As a result, we expect the price to begin a longer-term downtrend in the not too distant future This is necessary in order to form the superior green wave (C), the end of which we see likely just above the support at $12.17. The focus now is to ensure that the price does indeed form a top and does not continue to rise. There is a 39% probability that the alternative scenario will materialise and the bullish trend will continue if support at $17.96 is breached.
More rainbow colours As always recognize that I know nothing about charting, my ta is superficial at best and no investment strategy should be based on my thoughts.
That said....U looks like a nice slow ride with a tornado inside it waiting to be released. I'm buying under the blue bar, watching if it breaks the trend. My stop is tight so if if breaks from the channel I'm out. If it completes the flag support will be solid and I anticipate a leg up from there into the $16 range.
Quick uranium spot analysisUranium is in play from July 2021. Spiking in September 2021 and April 2022 with minor highs in October 2022 and February 2023. Current range is around 13.50 and 19.00. Prices might drop below this range but strong fundamentals is needed. Seems like traders who are long will hold their positions waiting for fundamentals. I don't think any strong buyer will come to market in 2023. But if market forces will move the price to lower range at 13.50 some fight for the price will emerge.
Physical Uranium Quarterly Log ChartUranium getting forgotten... yet the price has not broken down.
Still hanging ABOVE a MASSIVE volume defined base.
#fintwit #uranium #inflation #silver #gold
Uranium priced in GoldIs uranium the NEW gold?
Continuation breakout in progress.
#uraniumsqueeze #uranium #gold #fintwit
Sprott Physical Uranium Trust at CrossroadsBulls and Bears are fighting it out in a key support zone:
Bullish:
- Hammer candle may form in key support zone provided by an open gap that may not get completely closed today (may still change today)
- Support also given by uptrend line that hasn't been broken as of now (may change until close, though)
- Slight bullish divergence in price and OBV that doesn't seem to print a new lower low right now
Bearish:
- MACD and Arron Up and Down turned bearish today, which confirms a new downtrend
- Key support zone under attack, gap may still be closed today
- uptrend line is under attack
Conclusion:
A bear trap may be forming right now. However, if the hammer candle won't be confirmed by another decently large green candle tomorrow, it might be time to abandon ship here.
SRUUFIn this video we look at a followup on SRUUF and pullback that is happening. Where is the level of support and how do we forecast it?
U.UN just broke a decade long resistance lineU.UN just broke a decade long resistance line, in an avarge uptrend for the past 16 months.
Does SPUT track the U spot price?SPUT became active mid August 2021. After the initial euphoria that accompanies the introduction of a new vehicle, SPUT seems to track the U spot price reasonably well.
