Long

U.UN Sprott Physical Uranium Outlook

Looking for to have progressed higher in 3 waves, with current price action potentially being in the later stages, if not already completed, of a WXY pull back. Watching for a reversal and breakout to form, after which another 3 wave move higher could unfold. Simlar view on may get an update out on that soon.

Note

26/04/25 U.UN Update

Since the last update the chart has consolidated a little further and extended the ending diagonal lower. The chart moved down toward the top of the yellow zone which represents a measured move target of yellow (W) and has reversed higher, I have also added the red 1.618 extension of red A to the chart, this could potentially mark the low of red C which bounced exactly at that point. The chart needs longer to develop before we can say the low is in, but once upside resumes, I will be looking for around $36 before a reasonable pull back.

Note

27/05/25 U.UN Update

From the lows price has formed what looks like an impulsive wave which I have labelled as red 1, I’ll be looking for a pull back now in red 2. A typical target zone I will look for will be $20 - $20.87 which is the 50 - 61.8% fib retracement zone of red 1. Once the a and b waves of red 2 form I will also add another range to watch for. The completion of red 1 is currently contained below the descending trendline, we should get a break of this once red 2 has completed, and the re-test could come during the lower degree correction of green ii. I’ve not added to my uranium position for a while, but I will be viewing this pull back as an opportunity to add to the uranium sector. As before i will be looking for an impulsive rally up to the $35 area.

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