Uranium: Hurst Cycles - 30th November 2022
Uranium continues largely sideways with diminishing amplitude at the 20 week component, betraying a bearish influence. We look at the next moves, most importantly the incoming 18 month nominal low
Tools required: Nominal Model | FLD | FLD Trading Strategy | FLD Trading Strategy (Advanced) | Principle of Nominality | Underlying Trend
Analysis Summary
In our last report into Uranium via the Global X Uranium ETF URA 0.00%↑, we speculated on the position of the 40 week component and, in addition, whether the 4.5 year nominal peak had occurred:
From 12th July Report:
Whether the 4.5 year component of the 9 year component has peaked is a question we can’t yet answer but it is highly likely there will be support at the 4.5 year FLD (orange on long term chart) for the 18 month nominal low at the end of 2022. Subsequent to that low a test of the highs around 30 may well occur to form a generally sideways move into the 4.5 year low due 2024.
The 40 week nominal low is now highly likely to have occurred in the May - June time zone (as phased below) with a relatively weak move up to the 24 area completing a triangulation of price. The 18 month component that governs this triangle is therefore neutral t…