Uranium Not Dead Yet
[Click on the picture to watch Murray analyse the current situation in uranium prices. There is potentially a long-term shift in trend underway and the upcoming opportunity in beaten up uranium stocks will be very compelling.]
Uranium prices have been under extreme pressure for many years, but are showing signs of creating a classic reversal pattern. The current selling pressure since the start of this year is taking prices back down to the buy zone of the second up-wave, which is the best opportunity for joining a chance of trend.
Don’t worry if that doesn’t make sense to you, because all you have to do is click on the picture above to watch the video where I explain it all quite clearly while showing you my charts.
The buy signal hasn’t been generated yet. There are a few more steps to go until I will be willing to jump into a few beaten up uranium stocks.
First, we need to see a continued sell off right into the buy zone around US$21.00–$22.00 and from there we need to see a buy pivot on the monthly charts, only then will it be go time.
This will be an interesting chart for us to watch together over the next 6–12 months, because if I’m right about the coming change in trend, there will be a great opportunity coming up.
Prices are already getting close to the marginal cost of production. The oversupply of uranium as a result of the thawing in relations between the US and Russia is slowly being taken care of and the lack of investment into uranium will ultimately lead to a reversal of the current oversupplied situation, in my view.
Editor, Alpha Wave Trader
PS: It’s down 90% in 10 years…but is uranium about to surge 2,000% (again)? Find out more in this FREE report.