JNR Resources Inc JNRRF

Junior Uranium Index

[st0ckpicker]

Junior Uranium Index Here is the Junior Index for the week. I am going to add a little commentary. It looks to me like we might have a tentative bottom put in. Last weekend I added some annotations showing the Fibonacci retrace levels and what looked like a developing A-B-C retrace. The retrace as it was projected completed this week and we have actually had two higher closes in a row. Both were black candles and both were on low volume which somewhat weakens the signal but there is an old phrase that states tops happen with a shout and bottoms with a whimper. Still, another upday on Monday would trigger the rule of threes and would mean the downtrend is over and an uptrend has taken over. That would not mean that there is no more downside risk as an uptrend at this point might simply be a B up wave in a larger ABC correction with its A leg completing at 19. I don't think so but who knows? Another element that supports a bottom in my mind are the two big black candles on Tuesday and Wednesday. Those came on above average and about average volume so they were pretty strong signals. It is nice to see a run exhaust itself with high volatility and relatively high volume days like that. Most folks who are going to sell would have sold at that point or before so the selling pressure should be fairly light in theory. Below is a link to a stockcharts public charts list with the elements of this index that I follow closely. I added comments of my own and would welcome any comments good or bad. I am still feeling my way around the TA arena so feel free to ridicule if you see obvious holes. Junior Index https://tinyurl.com/5d9cl Public List https://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID1004348