Palisade Research - Wed, Jul 19, 2017

Did The Second Leg Of The Uranium Bull Market Just Begin?

photo of a barrel of yellow-cake uranium

Uranium stocks have just crossed an important technical indicator.

After falling from its high in February, stocks have once again crossed their 200-day moving average.

line chart of the Global X Uranium ETF from Aug. 2016 to Jul. 2017

The last time this occurred was in the beginning of January, and uranium stocks gained 40%.

It appears volume is once again on the rise as the Global X Uranium ETF breaks through this important resistance, and even the juniors are rallying.

While uranium stocks came close to retesting their lows in November of 2016, we still maintain that was likely a multi-year bottom. Only time will tell!

Collin Kettell and Cejay Kim from the Palisade Global Investments team will be in Vancouver for the Sprott Natural Resource Symposium on July 25-28. Also in attendance will be one of our top uranium picks, GoviEx Uranium. If you would like to meet, please do not hesitate to contact us! info@palisadeglobal.com.

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