Weekly number and some thoughts. . . .Uranium Sector Overview- . . AEE needs to cross 15 for a start. Next number is 16.5, some resistance. Then previous CR at 18. If it can scale these, I feel, with the help of any news, macro etc, good times may roll. . Yesterday CCJ closed below 50. For the first time in after 1 week. It had gone below 50 after 2 months. It was important that it returns from here and does not go below 45. At this stage, based on technicals, odds that CCJ may have made its lows of this phase has increased. . Here are the last 3 drops, including current - . March 2024 drop - from 51.22 to 39.02 - Drop of 24% August 2024 drop - from 56.24 to 35.43 - Drop of 37% January 2025 drop - from 62.55 to 48.18 - Drop of 23% . So usual drop that CCJ does, in one way it has done that by dropping 23% in reaching 48.18. Question is - will that be the low? Odds are good, especially with the return over 50 yesterday. The only bit which is not following the pattern is time. Usually takes couple of months to reach the low. We had the high on December 6. So around 6 week. We are 2 weeks behind. But its just a pattern. Does not need to happen all the time. But something to keep an eye on. . The Spot Futures too holding, around 74., stabilising, no major bull signal, but conducive for stock rise, considering that the slide down has been arrested. . General markets are also looking like coming back -
SP 500 after making a high around 61k was doing back test. It could have gone 5%, 10% or even 20%. It dropped nearly 5% and is now coming back. So that is very positive that the drop has been minimum.
Gold, Silver, Oil, all doing well.
Bitcoin in another rampage at 102k now, looks like 110k is next target.
VIX after going above 20, now under 16, very bullish
Sentiment Indicator is at 38 Fear. Only indicator that is not supporting the bull case. But its a lagging indicator, so may pick up as stocks do.
. So overall the stage is set for another run. But anything can happen, so please dyor. . . Here is the Figures for the Week:. . .
AEE Price at posting:
14.0¢ Sentiment: Hold Disclosure: Held
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