Sunday, August 12, 2007

Uranium ($URAXPD) Analysis for 08.12.2007


The monthly chart shows a deep correction in the price of uranium stocks, with a high made in July 2007. The index has retraced to the .786 fib level thus far.

The weekly chart shows possible 5 waves up into the July 2007 high. The downside move was confirmed with the breakof the uptrendline.

The daily chart shows the sharp selloff from the July 2007 highs. Currently price is below the 8ema, indicating the strength of the down move in the World Uranium Total Return Index.

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