Reading the Uranium tape

Uranium prices have declined for 6 consecutive weeks. These streaks usually end at 6, 7 or 8 weeks.

The 22% decline over the past 6 weeks has nearly retraced 50% of the advance which commenced in July 2023.

I think we’ll see some weakness this week followed by a pause of the recent decline. Maybe a bounce but I think the shake out of the later coming, long buyers isn’t done.

So, I expect a greater mean reversion before seeing another and safer moment to deploy capital to the larger structural #uranium bullish theme.

March 18, 2024

by Rob Zdravevski

Karri Asset Advisors

rob@karriasset.com.au