GX Uranium ETF Elliott Wave technical analysis [Video]

GX Uranium ETF Elliott Wave analysis

The Global X Uranium ETF (GX URA) provides investors exposure to the uranium sector, tracking companies engaged in uranium mining, exploration, and production globally. As nuclear energy gains traction as a cleaner power source, uranium demand could rise, positioning the GX URA ETF as an appealing opportunity for investors interested in the sector’s potential growth. Long-term Elliott Wave analysis

Looking at the GX URA ETF through an Elliott Wave lens, the ETF appears to be in a prolonged bullish correction after a notable downtrend. Between February 2011 and March 2020, the price consistently declined, forming lower lows and lower highs, which fit an extended impulse wave pattern. This downtrend culminated in March 2020, after which the price began a recovery sequence. Daily chart analysis

Following this low, the ETF completed an impulsive wave A (circled) of the primary degree by November 2021, […]

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