Simply because men who stare at charts often like to stare at long-term bases that have turned up. e.g the Uranium price…
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This Post Has 8 Comments
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.
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