Trade Idea URRE (long)

This is one that has been under accumulation for some time. A while back, I made the fundamental case for URRE and the technicals have been moving in the right direction since. Here's what would have to happen for a long position in URRE so you may want to keep it on a watch list or set alerts.

 The daily chart has shown URRE as carving out a base for nearly six months, being one of the few commodity based equities that didn't run under QE1/2, it looks like fundamentals have created a situation in which URRE's time has come. If price can test support or even break it by a bit on a head fake move and 3C can make a higher high then the last low at the start of August, we'll probably have a high probability trade with low risk.

Likewise, if the hourly chart can test the price support or even break down below $.98 a bit and see the hourly 3C line move up, we'll have similar confirmation. So keep this one on your watchlist, it's created a big enough base to sustain quite a rally.