The herd is arriving in Uranium and Oil

Over the past 2 months, Crude Oil prices have climbed 21% while the price of Uranium has risen 18%.

In the past 5 months, they have risen 15% and 31% respectively.

It all depends on your starting point.

However, the latter is where I hear the most noise.

The latter is overbought (on my various measures) while the former, is not.

While overbought can stay overbought much longer than being oversold…….tactically, it’s valuable to observe when the noise heightens and the herd arrives, as many enter new buy orders.

Don’t be tricked by those touting the prospects of a ravishing advance as prices enter a new atmosphere.

Managing an existing long position with a much lower cost basis is not the same as buying at today’s prices……

Incidentally, the price of Orange Juice and Rubber have risen 21% over the past 2 months too.

September 18, 2023

by Rob Zdravevski

rob@karriasset.com.au

#uranium #oil