URA’s Breakout: Uranium Miners ETF Rally Gains Steams
The Global X Uranium ETF ($URA) offers investors a way to invest in a basket of global companies involved in the uranium mining and nuclear components industry. As a thematic fund, it seeks to benefit from the growing demand for nuclear energy as a clean power source. URA holds a diversified portfolio of companies involved in the full uranium value chain, from extraction and refining to exploration and equipment manufacturing. Below we will look at the Elliott Wave technical update for the ETF.
URA Elliott Wave Chart Monthly Chart
Monthly Elliott Wave chart of Uranium Miners ETF (URA) above suggests it has ended wave ((II)) Grand Super Cycle degree at $6.95. The ETF has started a new bullish cycle in impulsive structure with extension. Up from wave ((II)), wave I ended at $31.6 and pullback in wave II ended at $17.65. It has nested higher with wave ((1)) ended at $33.66 and wave ((2)) dips ended at $19.5. While above $6.95 low, expect the ETF to extend higher.
URA Daily Elliott Wave Chart
The daily chart of the $URA ETF above shows rally from wave ((2)) low on April 7, 2025 low is unfolding as an impulsive structure. Up from there, wave (1) ended at $42.22 and pullback in wave (2) ended at $35.64. As far as pivot at $19.5 low is holding, expect the ETF to extend higher.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
