After The Close, 25 Jan 2011
Merv’s Daily Uranium Index
Market Data
Open: 251.06
High: 253.96
Low: 244.14
Close: 248.84
Volume: 7382
Note that the volume is an average volume of round lot sales for the 50 component stocks. For total volume, multiply by 5000.
Another down day in the uranium sector but near the end of the day we had a little bounce so maybe we are in for some upside move over the next day or two. Nothing much has changed since the week-end analysis except that the short term has just gotten a little more bearish with the momentum indicator now moving into its negative zone and the very short term moving average line moving below the short term line. The short and intermediate term ratings remain unchanged from the week-end, BULLISH for the intermediate term and BEARISH for the short term.
As for the immediate direction of least resistance, I’m going with the lateral although there is some indication that the Index wants to go for a bounce from here. We’ll see.
Merv’s Daily Uranium Index
Market Data
Open: 251.06
High: 253.96
Low: 244.14
Close: 248.84
Volume: 7382
Note that the volume is an average volume of round lot sales for the 50 component stocks. For total volume, multiply by 5000.
Another down day in the uranium sector but near the end of the day we had a little bounce so maybe we are in for some upside move over the next day or two. Nothing much has changed since the week-end analysis except that the short term has just gotten a little more bearish with the momentum indicator now moving into its negative zone and the very short term moving average line moving below the short term line. The short and intermediate term ratings remain unchanged from the week-end, BULLISH for the intermediate term and BEARISH for the short term.
As for the immediate direction of least resistance, I’m going with the lateral although there is some indication that the Index wants to go for a bounce from here. We’ll see.
1 comment:
Good News for fellow Uranium Bulls
January 26, 2011–The spot uranium price continued its upward climb this week increasing $3.50 to US$70.00 P/Lb U3O8, the highest level reported since April 2008.
http://australianuraniuminvesting.blogspot.com/2011/01/uranium-spot-price-hits-7000-plb-new-52.html
Merv & followers 2011 is looking good :)
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