After a quick topping process and a LONG pullback, the Uranium complex is showing signs of life! I am tracking 2 ETF's and the UUUU stock that I was covering in past videos in the fall:

TradingView Charts:
URA (Global X Uranium ETF)
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URNM (Northshore Global Mining ETF)
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UUUU (Energy Fuels Inc)
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We looked like had a perfect downside setup for a sharp C-wave downwards, but the latest rally can easily count as a 5-wave impulse up followed by a 3-wave correction and another rally. In other words, we may almost have a 1-2,i-ii setup at the micro level for uranium. If we follow-thru, this rally may get going much sooner than initially expected! However, if we pullback down in a 5-wave impulse to the downside, expect one heck of a crash into the our large Wave 2 pullback region!

Next Update here:
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View the previous UUUU Update here:
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I use Elliott Wave analysis to project price levels for different assets and asset classes. EW is a form a technical analysis that is absolutely NOT based on fundamentals. Please be aware that this video is not intended to act as financial advice. I am not a trained or certified financial professional. You may invest based on a strategy tailored to your own skill and risk-tolerance levels.

#uranium #UraniumSqueeze #uuuu

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