{"id":55746,"date":"2024-07-20T05:47:17","date_gmt":"2024-07-20T05:47:17","guid":{"rendered":"https:\/\/thepatientinvestor.com\/?p=55746"},"modified":"2024-07-20T05:48:01","modified_gmt":"2024-07-20T05:48:01","slug":"uranium-stutters","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2024\/07\/20\/uranium-stutters\/","title":{"rendered":"Uranium stutters"},"content":{"rendered":"

Sprott Physical Uranium Trust (SRUUF) broke support at 18.50 and is now retracing to test the new resistance level. Respect is likely and would signal a bear market for uranium.<\/p>\n

\"Sprott<\/p>\n

The bear market is related to short- to medium-term demand and supply. Long-term demand for U308 is projected to grow by more than 50% by 2040, whereas supply — including restarted idle capacity and new mines planned and under development — is forecast to shrink to less than 50% of supply over the same time frame.<\/p>\n

\"Uranium<\/p>\n

Conclusion<\/h2>\n

Respect of resistance at 18.50 by the Sprott Physical Uranium Trust (SRUUF) would confirm a bear market for uranium.<\/p>\n

As with copper<\/a>, we are long-term bulls on uranium and other resources required for the transition to low CO2 energy. A bear market in uranium would provide an opportunity to build a long-term position at low prices.<\/p>\n

Notes<\/h4>\n