Big moves in the uranium markets this week and I can tell you...

Big moves in the uranium markets this week and I can tell you for sure that instos have come out of the woodwork to enter some big positions on URA.

Unfortunately what I can't tell you is if those positions are short or long but I'll show you what's happening and you can decide for yourselves how you think they are positioning.

Ok, so earlier in the week the #1 (largest) trade of all time hit URA.
This was a big deal and price rallied hard almost instantly off this print.

However, because smart money doesn't like to make things easy the waters have been somewhat muddied since.

In fact price has done a complete roundtrip with URA closing nearly bang on the #1 print (just a few cents above) in overnight trade and what has made things a little more complicated URA got hit with #4 and #11 prints on the way down.

If you were to look at this price action and think the world is falling then you wouldn't be alone, it looks horrible.
However, as someone that uses these prints often to help decide trades I can tell you it's pretty normal.
Plenty of times you'll see a mega position hit the tape only for price to either test it or break it (in the wrong direction) in the next session or two.
This helps smart money control price as they will clear out most short and long positioning and leave themselves firmly at the wheel before a larger move takes shape.

First lets look at URA this week
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The #1 print hit, price rallied and things looked awesome.
What doesn't look great is the two mega prints on the way down overnight and price closing below.
But before we throw the baby out with the bath water lets take a walk down memory lane and see how the last turn in the market was set up.

URA top 10 prints for the past 12mths
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Looking back at trading before the big dip mid '24 and you'll see #2,4,5,9 prints all bunched together.
Those hits all came over the course of a few days and price chopped above and below a few times before deciding to get into trend.
So maybe this weeks action isn't so bad after all (or maybe it is but that's on you to decide).

I''l be honest, I wasn't thrilled with overnight trading so decided to see what CCJ had been doing and I got a little bit of confidence that maybe we are seeing peak f*ckery before a turn in the market as instos did look to buy the dip with decent size on close.



CCJ is also still holding a key level, so this certainly looks more bullish than bearish but you need to weigh it up with URA as that kinda leans the other way...

All I can say is bottoms and tops are rarely easy to trade, you almost always have to take some heat but you also have to be smart about taking positions around those levels cause it can be dangerous when you miss the mark.

Is this the bottom?
I have absolutely no idea.

Is there a case for long positions here?
Enough of one for me to hold onto what I have (although I did lock in my profits on PDN, so I'm not overly exposed anymore)

At the end of the day it's on you all to decide how you want to be positioned and how you manage those positions.

So with that said, trade safe and good luck...

DYOR
GLTAH