Email of the day on uranium charts
Comment of the Day

February 08 2017

Commentary by Eoin Treacy

Email of the day on uranium charts

There seems to be an error with the chart of uranium which you referenced last month, would it be possible to please update it (see the enclosed chart)?

Eoin Treacy's view

Thank you for this email which may be of interest to subscribers. Uranium is not a freely traded commodity so there is only one daily price. Therefore it is best to view it as a line chart. I am not sure why we receive open, high, low, close data but I have now switched the chart to default to line in the Chart Library.

The metal continues to extend its rebound and is now trading back above the trend mean for the first since late 2014.  

A significant number of uranium miners have completed lengthy base formations in the last few months with the best performers represented by small Australian and Canadian operators not least Bannerman Resources and Laramide Resources.

Cameco has experienced some quite acute volatility over the last week following Tokyo Electric Power’s (TEPCO) cancelation of a major supply contract. The share is now trading in the region of the trend mean and a sustained move below C$14 would be required to question medium-term scope for additional upside. 


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