Uranium (URA): Still in bear mode

As we predicted in early October (09-10-14) (http://goldenopportunitytrading.blogspot.co.uk/2014/10/uranium-and-crudeready-for-bounce.html) Uranium ETF (URA) bounced exactly between 11-11,5 and is now moving fast towards around 13,5 and possibly even 15$.

Uranium and Crude update

Uranium (URA) after breaking down from its support line at 14 is now moving fast towards 11,5 where we believe that there is a good possibility for a bounce towards the descending trendline at around 13-13,5 or even a push towards 15.

Crude Oil ($WTIC) is in a clear medium-term downtrend.It didn't manage to break above 95 and is now moving towards 84 where we think it will bounce towards  88.If support at 84 fails then next target for crude will be 77,5 where there is strong support.

Bullish Uranium

Uranium ETF (URA) has just managed to go above a descending resistance trendline (black) from March this year and is now confined inside a triangle (blue lines).We believe that URA is going to break out of this triangle soon and move fast towards 16,5.Critical price level for bullish scenario to materialize is 15,5.

Our longterm view for URA is that it is forming a saucer type bottom (http://goldenopportunitytrading.blogspot.co.uk/2014/06/20-years-after-end-of-cold-war-new.html)  

Uranium Update Another buying opportunity?

Uranium (URA) followed our preferred bullish scenario(http://goldenopportunitytrading.blogspot.co.uk/2014/06/20-years-after-end-of-cold-war-new.html) (almost touched 16) and reversed towards 14,5.We are still leaning bullish towards URA. It might move toward 14 before start a substantial ascend.If it breaks down below 13,9 our scenario is invalid.A break above the descending trendline (black) will be a great bullish sign (especially if it will be followed later on by an RSI14(weekly) move towards 65 or even better above 65)

20 years after the end of Cold War, a new Nuclear era?URA(h)!

 Uranium producers ETF (URA) is forming a long term saucer bottom (in fact it seems we are in the very bottom of this process).

Weekly chart: we can notice the following bullish signs:

1. A transient breech of 50 SMA(weekly)(blue cycle)

2. Increased volume since the begining of 2014(green cycle)

3. The price bounced twice at 14$

4. 20 SMA is trying to stay above 50SMA

Daily Chart:We can see a clear diamond pattern(Green).Diamonds are either continuation or reversal patterns.

Bullish Scenario (we favor this scenario)

Bearish Scenario