URA, a Uranium ETF tracking the largest and most liquid uranium mining companies, has crossed above its 50 SMA on the weekly chart for the first time since the Fukushima nuclear disaster in March of 2011. This coincides with the announcement of the Basic Energy Plan from the Japanese government, which includes a call to restart the country's nuclear reactors -- which are dependent upon uranium for fuel.
Personally I'm very bullish on uranium and have been building a uranium position since November of 2012. I think I am done with buying uranium stocks for now, though I anticipate price to go much higher -- a re-test of the 2007 highs seems very possible to me. The tension surrounding Ukraine may also result in breakdowns in the flow of energy resources, particularly natural gas; this could send all energy prices higher.
Our uranium archive may be worth perusing for those interested in learning more about uranium.
Personally I'm very bullish on uranium and have been building a uranium position since November of 2012. I think I am done with buying uranium stocks for now, though I anticipate price to go much higher -- a re-test of the 2007 highs seems very possible to me. The tension surrounding Ukraine may also result in breakdowns in the flow of energy resources, particularly natural gas; this could send all energy prices higher.
Our uranium archive may be worth perusing for those interested in learning more about uranium.
by Simit Patel via InformedTrades
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