Don't Ignore This Chart!

Uranium ETF Tests Support with Inside Week


The Global Uranium ETF (URA) has had a tough eleven weeks with a decline from 19 to 14, but support may be at hand. The October-November lows marked support in the 14 area and the ETF firmed here with an inside week last week. Also notice that CCI is oversold. A break back above -100 in CCI would be positive for momentum and a break above 15.1 would be positive for the ETF. 

Click this image for a live Chart

Arthur Hill
About the author: , CMT, is the Chief Technical Strategist at Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London. Learn More
Subscribe to Don't Ignore This Chart! to be notified whenever a new post is added to this blog!
comments powered by Disqus