BOE Chart, page-98

I topped up this morning. I hadn't looked at BOE's chart for a while but I observed the following:

• BOE is very close to testing its uptrendline from the 2013 low (note: I use log-scale charts - the uptrendline will show up differently on a regular linear chart)
• BOE is sitting in the fibonacci 50-61% retracement zone (that is, the retracement of the 2013-2017 rally)
• The price action since the 2017 peak looks to me as though it's a consolidation/continuation pattern, ie. BOE is more likely than not to eventually break out in the direction of the underlying trend, ie. upwards. And BOE is currently trading close to the bottom of its consolidation range.

My fundamental view is that the uranium market bottomed in 2016 and has been in a stealthy uptrend since then. Stealthy because I don't think many people have noticed.