Looks like the bear market for Uranium ETF will be over soon. The price of URA has been in a bear market since 2011 with a high of $130 losing about 90% of it's value dropping as low as $11.25.
On October 2016 it started a small rally that ended with a shooting star candle with the 150 Weekly MA acting as resistance at the price of $19 Top.
Since then it has been forming a triangle of higher lows with the price of $11.50 acting as support.
That triangle is expected to break by late 2018 to early 2019.
As the current market conditions for commodities which overall are at the all time low, it shows chances of maximal financial opportunities.
We are currently close to test the resistance at the range of $13.75.
Breaking that level would take us to a new higher high changing the over all trend Uranium ETF.
I'm not a financial advisor, this is my personal opinion. Only invest what you can afford to lose.
On October 2016 it started a small rally that ended with a shooting star candle with the 150 Weekly MA acting as resistance at the price of $19 Top.
Since then it has been forming a triangle of higher lows with the price of $11.50 acting as support.
That triangle is expected to break by late 2018 to early 2019.
As the current market conditions for commodities which overall are at the all time low, it shows chances of maximal financial opportunities.
We are currently close to test the resistance at the range of $13.75.
Breaking that level would take us to a new higher high changing the over all trend Uranium ETF.
I'm not a financial advisor, this is my personal opinion. Only invest what you can afford to lose.