Simply because men who stare at charts often like to stare at long-term bases that have turned up. e.g the Uranium price…
For “best of breed” top down analysis of all major markets, subscribe to NFTRH Premium, which includes an in-depth weekly market report, detailed market updates and NFTRH+ dynamic updates and chart/trade setup ideas. Subscribe by Credit Card or PayPal using a link on the right sidebar (if using a mobile device you may need to scroll down) or see all options and more info. Keep up to date with actionable public content at NFTRH.com by using the email form on the right sidebar. Follow via Twitter@NFTRHgt.
What do you see, Gary?
I see a break above the 2015 high that I’d like to see hold as support. That would set the right side of the long bowl.
I replaced the chart with one that I drew in the support level on.
I ❤️ U….
I ❤️ U… :)
now what do you see staring at the similar long term chart for silver?
Awe shucks… anyway, staring at Ag I see a similar base that broke out about 17 years ago. I also see a shorter one that broke out in 2020 and got tested hard in 2022.
does this not play against your commodity view?
Not really. Uranium is an outlier, a specialty. A structural need in the years ahead. So, much like Lithium and battery metals, etc. I see it as less an inflation trade and more a special situation. Of course, if we go full deflation it all goes down.