Just my weekly update. I could be wrong, so please dyor. . .Uranium Sector Overview- . Yesterday CCJ closed below 50. For the first time in over 2 months. In process has dropped above 20% from its high of 62.55. This is only the first day so could be momentary. So may not mean anything. But there is a trend. A 2 to 4 monthly trend. . 62.65 - HIGH - 6th December 2024 35.43 - LOW - 5th August 2024 56.24 - HIGH - 31st May 2024 39.02 - LOW - 14th March 2024 51.22 - HIGH - 12th January 2023 -
So based on this pattern one would think we have to hit a low now. It has been very consistent. Between 2 and 4 month timeframes, it finds a high and then a low. The March 2024 drop was around 23%. The August 2024 drop was severe, nearly 40%. Currently we are at 20% drop. The big question is - what may be the that big low of this phase? It has already reached 49 - will that be it, or get to 45, or even possibly to 39? We don't know but I feel we will be making a low, hopefully in 40s somewhere. . The other thing which is also pointing to a low is general markets. The general markets have been on a tear for quite some time. Without any decent pullback, say for SP 500. The maximum has been 10% when from 55/56k it tested 50/51k. Currently its down just under 5%. So lot of buffer even to 10%. Things will really go bad if SP 500 drops over 20%, a major concern if over 10%. The 10% level is roughly around 55k. SP 500 finished at 5827 on Friday. So lot of room still. But there is a chance it might want to test the 55k. So may drag stocks as well. . Last the Spot Futures. Its now toying between 70/75 range. For any positive sentiment, it at least needs to get over 80, possibly 90. It needs hold 70, otherwise sentiment can become weak. So something to watch on.. . I have a feeling now that CCJ has dropped below 50, has dropped below 20%, its better it finishes its business of dropping now in this phase. Drop a little bit more and then come back. If it rallies a bit and then drops again below previous low, then I feel the drop may be bigger.. . . Here is the Figures for the Week:. . .
AEE Price at posting:
14.0¢ Sentiment: Hold Disclosure: Held
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