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#SundayCharts #Uranium - Live from my toilet paper panic room edition🧻🧻🧻
Just a word first. When markets have an extreme liquidity event technicals get distorted to the point where they have less meaning.
Just a word first. When markets have an extreme liquidity event technicals get distorted to the point where they have less meaning.
Still some value in viewing them relatively and looking at volume vs price percentage on moves. As the markets continue to convulse (and I think they will for at least a little bit longer.)
Start to look for ridiculous value and scale into purchases for long term holds.
Or panic like everyone else and throw your shares on the ask. Just remember someone is on the other side of that trade.
Or panic like everyone else and throw your shares on the ask. Just remember someone is on the other side of that trade.
#SundayCharts #Uranium - US apocalypse edition.
Just a couple words of commentary before the charts. Friday's move against the entire US U sector was incredibly reactionary and opportunistic. As we have discussed in the past couple weeks the bigger US stocks were rolling over...
Just a couple words of commentary before the charts. Friday's move against the entire US U sector was incredibly reactionary and opportunistic. As we have discussed in the past couple weeks the bigger US stocks were rolling over...
...from an oscillator perspective and were technically vulnerable. had broken down from its price trend. had just failed a test of resistance. None of this could have predicted Friday IMO but it did hint that down was the next move.
On top of that, this was always going to be a "sell the news" event in my eyes. This was discussed previously and others were of the same opinion. Coming into Friday there were very few people that would be buying at the levels of the previous few closes.
