Categories: Energy / General Market Commentary
Topics: General Energy / General Market Commentary

Fundamentals for uranium look great; is the uranium market ready to soar?

Fundamentals for uranium look great; is the uranium market ready to soar?

A genius can't be forced; nor can you make an ape an alderman.

Thomas Somerville

By any estimate, the uranium market is trading in the extremely oversold ranges, but when the trend is down, a market can trend into the extreme of extremely oversold ranges, and we have seen this occur many times in the past.  The 15-year chart illustrates that the next layer of support comes into play in the $21.50-$22.00 ranges, so despite being extremely oversold the market still has room to trend lower. One positive is that the trend is about to turn neutral and if it does it would be the first move into the neutral zone in a very long time.

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