RE:a spot price of $21 +RCKS Charts: Uranium In this edition of RCKS Charts, Keith has evaluated the uranium price. Uranium shows several signs that a reversal of its 10-year decline may be finally taking hold. Work still has to be done but several factors are showing marked improvement. First and foremost, uranium has stopped breaking down to new lows, established a double bottom and is beginning to emerge from that pattern. Also notable is that momentum is about to cross into positive territory, and the 40-week moving average has already turned to the upside. A break above $23 reverses the down trendline from 2011 and essentially from 2007. Initial upside targets are $25-26 and $35-44. Support is solid across $18-20.
reiter15 wrote:
would be the starting signal imo