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Commodities

Uranium – Monthly Analysis

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Open Articles Public Uranium Weekly
652

Today we focus on $URA, its recent technical signals, and the short- and mid-term outlook. As usual, we assess the instrument from multiple angles—candlesticks, technical indicators, and Elliott Wave structure.

CANDLES

Today I am discussing URA only. UUUU is not as convincing as URA at the moment. If conditions stabilize, we will revisit it next week.

After forming a top in mid-October, URA pulled back, consolidated, and now appears ready for the next rally. The weekly frame has formed a bottom, and the 8D completed a strong Bullish Engulfing. If momentum continues to build, the monthly bearish candle will likely be rejected or mitigated. The technical trends are aligning for a bullish advance.

ELLIOTT WAVE

URA – Global Uranium ETF

Long Term

In October, URA reached the upper boundary of the target outlined in May, as shown on the chart above. Several recent moves prompted me to reconsider parts of the count, reflected in the chart below. The current wave up appears impulsive, and I am treating it as wave 5 of (3), with a potential rally of about 30% or more from the current level of $47.92.

Happy Trading!

Open Articles Public Uranium Weekly
652
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