Uranium miners (URNM) cup and handle with breakout

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The Global Uranium Miners ETF has made a breakout on the upside of its cup and handle formation, suggesting further upside move. Fundamentals look solid too, for example:

  • Reactor restarts in Japan
  • News of China building 150 new reactors in the coming decade
  • Spot price of uranium increasing by double digits in past months
  • Etc…


With both fundamentals and technicals looking extremely bullish, I have no doubt in my mind this will run to at least $120.

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