bbruzzese1

bbruzzese1

I am new to EW analysis but it would appear the corrective move is over and an impulsive wave should develop over the next few months. Macro forces of rate cuts and geopolitical risks would support this. A recession is almost guaranteed at this point but I think it will start beginning of 2025 or late 2024. Any input will be greatly appreciated, especially from...

bbruzzese1

I am new to EW analysis but it looks like gold has finished a correction and is now in wave 3 after the wave 1 impulsive move from Mar-May. Any input would be greatly appreciated. Thanks!

bbruzzese1 Updated 

If we can hold the arc trend line, gold should resolve to the upside by end of June or break down. Worst case scenario is a full retest of ~$2000 level before heading higher. Probability of ever being below $2000 again is very low in my opinion.

bbruzzese1 Updated 

Silver is at a crucial point which will more than likely be resolved very soon with CPI and FOMC meeting this week. There is a very strong confluence of support at current levels. The obvious accumulation cylinder is very much still intact. Any break below $28.50 is extremely bearish, below $26 means it's all over. If the bull flag is broken to the upside and...

bbruzzese1 Updated 

URNM is the largest pure play uranium miner etf in the world. It has been on a good run for about 10 months, but is still lagging the underlying commodity itself. I expect the equities to outperform physical uranium in a similar fashion to what happened during 2021. Spot uranium is approximately $100/lb at the moment, I fully expect it to reach all time highs...

bbruzzese1

The Uranium explorer Canalaska recently broke out of a downtrend and has completed a backtest. This was also recently added to AMEX:URA , the world's largest Uranium ETF. With rising Uranium prices expected to continue for the next few years, this one should do very well, especially if they find a mineable deposit. I am holding for the long term (1 year...

bbruzzese1

Broke above the cloud today but was rejected by the upper trendline. Flies to the moon once it breaks. A very safe American uranium producer with one of only 3 licensed uranium mills in the USA. Another one that will benefit greatly if/when HR1042 passes. Time horizon is 1 year minimum. Price target is $30+. Don't try and get cute by trading these equities, the...

bbruzzese1

If/when the bill to ban Russian uranium is passed (HR1042), there will be a premium for American uranium producers. Encore is the stud among a limited group of peers. Any weakness is a very good buy in my opinion. Encore is my overall favorite single name for the uranium bull market from a risk/reward perspective. Near term producer that will be a cash flowing...

bbruzzese1

IsoEnergy has broken out above previous resistance, any consolidation or backtest would be an excellent buy point in my opinion. Next Friday 2/9 is Cameco's earnings call where they are expected to revise production targets down for 2024 due to numerous operational issues. That's what Kazatomprom did today and the whole uranium sector was on fire. I wouldn't...

bbruzzese1 Updated 

Buying opportunity of a lifetime in my humble opinion. Uranium equities are likely to outperform the commodity by at least 2.5x, and probably relatively quickly. I also fully expect spot prices to continue upward over 2024 and beyond. Potential near term fundamental catalysts: 1. Major producers Cameco and Kazatomprom likely to miss production goals for 2024 and...