Uranium Looks Promising: Elliott Wave Analysis
Jun 15, 2022

URA

Uranium made strong and impulsive rally from March 2020 lows, clearly within a five-wave cycle. It actually suggests a bullish reversal at least in three waves A/1-B/2-C/3.

Uranium Chart
Uranium Chart

After a completed five-wave cycle into wave A/1 at the end of 2021, it slowed down into a wave B/2 correction. It now looks like a complex w-x-y corrective decline that can be now approaching the end soon.

From technical point of view, ideal support is around former wave “iv” and 61,8% Fibonacci retracement that comes around 17-15 support area . So, once current wave B/2 correction fully unfolds, we believe that Uranium will be headed higher into wave C or maybe even wave 3.

All the best!

Crypto market is trading at strong support zone. Check our latest update HERE

Do you find this interesting? Subscribe to our newsletter and stay up to date.

In our newsletter you will find all the news and macro reports about Forex, Crypto, Commodities and more. Don't miss a thing!

    DISCLAIMER

    Any reviews, news, analysis, prices or other information contained on our website is provided as general market commentary and delivered electronically through a distribution channel to larger number of clients, therefore does not constitute investment advice or investment research. We are not trading advisors. Most of our work is for educational purposes only, with information based on Elliott Wave theory in real time. Trading forex, futures, options, stocks, cryptocurrenices or any another trading market carries a high level of risk, and may not be suitable for all investors.

    The possibility exists that you could lose some or all of your initial investment; therefore you should not invest money that you cannot afford to lose. Our website and the information that we provide should not be relied upon as a substitute for extensive independent research before making your investment decisions. In no event will we be liable for any loss or damage on your account in connection with, the use of our products. For any real cash investments you have to contact your financial advisor.

    Any information or material contained on our website is owned by Val Global d.o.o.. Reproduction is prohibited without Val Global d.o.o. prior license in writing.

    By continuing to use the site, you agree to the use of cookies. Learn more.

    The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

    Close