The Global X Uranium ETF ($URA) is an exchange-traded fund (ETF) that seeks to provide investment results that correspond generally to the price and y
ield performance of the Solactive Global Uranium & Nuclear Components Total Return Index. In this article, we will look at the long term technicalUranium ETF Monthly Chart above held up the horizontal support/resistance at $19. The ETF has started to turn higher and should start the next bullish cycle higher. Wave ) ended on March 1, 2020 low at 6.95. Up from there, wave I ended at 31.6 and pullback in wave II ended at 17.65. While pullback stays above 17.
Dips in wave ended at 18.31 as a double three. Down from wave , wave W ended at 18.47 and rally in wave X ended at 23.86. The ETF then extended lower in wave Y towards 18.31 which completed wave . It has resumed higher in wave with internal subdivision as a 5 waves. Up from wave , wave 1 ended at 21.12 and dips in wave 2 ended at 18.97. Expect the ETF to continue to extend higher within wave 3.
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