U.S.Dollar /Canadian Dollar(USD/CAD) 4 Hour Chart Elliott Wave Technical Analysis 25 September 23
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By CryptoSaint · Posted
$SOL on fire! Reversal from support, reclaims $150, and eyes set on $200. Bullish momentum building - is this the start of a new #Solana bull run? #Cryptocurrency #SolanaCommunity https://coinpedia.org/price-analysis/sol-price-eyes-250-as-solana-enters-new-bull-cycle/ -
By tradinglounge · Posted
GX Uranium ETF (URA) Elliott Wave Analysis Function - Counter trend Mode - Corrective Structure - Zigzag for 4. Impulse for (A) Position - Wave 5 of (A) Direction - Wave 5 of (A) is still in play Details - The blue wave 4 triangle has been completed with confirmation above wave (B) high. Wave ‘5’ appears to have begun. Invalidation is now at wave (E) low. Price may retest toward the 30 major level before blue wave ’5’ continues. The GX URA ETF, known as the Global X Uranium ETF, is an investment fund designed to track the performance of companies involved in the uranium industry. This exchange-traded fund (ETF) offers investors exposure to a diversified portfolio of global uranium mining, exploration, and production companies. With growing interest in nuclear power as a cleaner energy source and the potential for increased demand for uranium, the GX URA ETF provides investors with an opportunity to participate in this sector's growth. After moving sideways for three months, the URA ETF is attempting an upside breakout as traders add to LONGs and exit SHORTs to extend the bullish impulse sequence that started in August 2022. The price is expected to attempt to reach a new high in 2024. From the Elliott wave perspective, we can expect the price to surpass the February 2024 high. On the attached daily chart, a clear bullish impulse wave structure emerged from 17.71 in August 2022. It completed the 3rd wave - primary wave 5 (circled in blue) in February 2024 and then moved sideways to complete a triangle structure for the corresponding 4th wave - blue wave 4. The 4th wave - blue wave 5 is now emerging and should reach a new high for the year. The H4 chart shows the sub-waves of the triangle 4th wave subdivided into five 3-waves within two contracting opposite lines. Primary degree wave 5 (circled in blue) is expected to continue higher toward 36-36. However, the price might pull back toward the 30.00 major level before the rally continues. This forecast will remain valid as long as the price remains above the 27.98 major level. Technical Analyst : Sanmi Adeagbo Source : Tradinglounge.com get trial here! -
By Ryan_Anderson · Posted
Against the backdrop of global market turmoil, the U.S. Senate has passed the "Prohibition of Russian Uranium Imports Act," sparking widespread attention and discussion. With this bill expected to be signed into law by President Biden in the coming weeks and prohibiting all uranium supplies from Russia 90 days after enactment, market expectations and dynamics are changing. As a professional stock market analyst, I will conduct an in-depth analysis and assessment of the impact and prospects of this bill. Russia, as one of the major suppliers of uranium resources of the world, cannot be overlooked for its rich uranium economic resources. According to the World Nuclear Association (WNA), Russia holds approximately 9% of the reasonably assured resources of uranium economic resources of the world and was the sixth-largest producer of uranium before invading Ukraine, accounting for 5.5% of global uranium production. Therefore, the U.S. uranium ban will directly impact the global uranium market supply and demand landscape. The passage of this bill will lead to significant changes in the global uranium supply chain. The restricted supply of uranium under this bill will greatly reduce, potentially leading to a rise in global uranium prices. For other uranium producers, explorers, and developers like Australia, this is undoubtedly a huge business opportunity. With the increasing demand for uranium hexafluoride, the demand for U3O8 will also increase significantly, presenting unprecedented development opportunities for the Australian uranium industry. However, we must also recognize that the U.S. uranium ban poses certain risks and challenges. Firstly, for countries and companies reliant on Russian uranium imports, they will need to find alternative supply channels, potentially causing short-term market instability and supply shortages. Secondly, this U.S. move may trigger protectionist measures for uranium resources in other countries, further distorting the global uranium market competition landscape. Nevertheless, I am optimistic about the future of the Australian uranium industry. As one of the largest uranium resource-holding countries globally, Australia holds a significant position in the global uranium market. With the implementation of the U.S. uranium ban, the Australian uranium industry is poised for a new round of development opportunities, promising lucrative returns for investors.
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