Daily chart for USL looking ready to breakout in line with Silver already on its breakout.
Usually USL follows Silver as it has done all these months with the price rises and falls coinciding with Silver prices rises and falls.
MACD in negative zone but has been sideways moving like the share price has been trading sideways for just over a week now, with the MACD starting to turn up, with two days of large volume spikes.
The Gap at 20c which I mentioned in my previous chart post, has now been closed which is very good as it no long hangs over the market as an anchor and now lets the price move forward without that psychological fear which has been there since the gap up in April.
Further drilling and expansion of the resource continues, Silver mining M&A's starting too and some junior explorers are starting to acquire Silver projects; all signals from a fundamentals side of a Bull market cycle starting.
Gap above at 29.5c is the first target but Equity Research with their 80c price value in their analyst report is the main goal to start with.
USL Price at posting:
21.5¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)