"As a technician, I feel that there are few analysts that offer value for me, but you do. Your work on Gold ratios has helped my analysis greatly." --Jordan Roy-Byrne, CMT (The Daily Gold) 4.9.10

Monday, September 27, 2010

Why bother with charts? Uranium

Everybody knew uranium was all done, sinking like a yellow, cakey stone under the weight of all that supply overhang.  Well, that may or may not be the case, but my U holdings are all showing some really nice strength of late, following the U.to (u3o8 proxy) chart higher; exceeding it actually.  U.to still on track above former resistance and in a global view, this vital resource has got to bottom somewhere.  Might as well have been in May.