Uranium: Hurst Cycles - 10th January 2023
Uranium via URA is finishing the triangulation that has typified this instrument over the last 9 months. We look at the evidence for the incoming 18 month nominal low and examine the similar UEC
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Analysis Summary
Uranium, via our favourite analogue URA 0.00%↑, has continued to generally move sideways, spiking briefly from the most recent 80 day component low iteration which occurred around late November - mid December 2022. As mentioned in previous reports, price has formed a very obvious triangulation ‘pause zone’ in the run up to the next 18 month nominal low, which is due imminently.
Triangulation occurs when the larger component (in this case the 54 month wave) starts to push down in opposition to smaller components pushing up. In this case the 18 month component pushed up initially in August 2021 and thereafter the inner structure of the triangle has been defined by the excellent 40 and 20 week components. Each one losing amplitude as the zone progresses. This amplitude will return with force when the 18 month component makes i…