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Uranium URA Intermediate Cycle Update

Commodities / Uranium Oct 29, 2017 - 11:12 AM GMT

By: SurfCity

Commodities

Friday sure looked like a capitulation day for the Uranium sector and possibly a cycle low is forming but is it just a Trading Cycle Low (TCL/DCL) or perhaps also an Intermediate or Yearly Cycle Low (ICL/YCL) or as well? First, you may wish to review my last update on the sector.

https://surfcity.co/2017/09/21/uranium-ura-energy-cycle/

Six charts below on URA, CCJ and NXE each with two charts. The first for each is a 3 year Weekly showing Intermediate and Yearly Cycle Lows (ICLs & YCLs). These charts make a somewhat compelling case that Friday’s low may well be a longer ICL/YCL but we may also see an undercut low.


If you play this sector, and buy any of these, I would place my stop right under Friday’s low but be prepared for a retest and perhaps an undercut where you may get shaken out. If that happens, be prepared to buy back at the undercut, IMO.

By Surf City

https://surfcity.co/

Everything about Cycle Investing

© 2017 Surf City - All Rights Reserved
Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


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