A Big Base in Uranium π€οΈ The Morning Print
Good morning!
The periodic table trade may be setting up once again.
If so, uranium is one theme positioned to run.
Here's the setup.
In this market, if you drop it on your foot and it hurts, itβs probably been in demand.
Over the past year, capital has rotated aggressively into hard assets, including steel, aluminum, lithium, nickel, and even tungsten!
The Global Uranium ETF ($URA) is now consolidating near its 38.2% Fibonacci retracement β a logical area for digestion within a broader uptrend.
Relative to the S&P 500, $URA has carved out a decade-long base and is now pressing against key resistance.
If the periodic table trade reignites, both the absolute and relative trends are set to resolve higher simultaneously.
This would make uranium a great pond to fish in for investors looking for momentum and relative strength.
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