Also the Uranium Sector heated up by the start of the war. Thursday, we recognized a huge spike as UX # (Uranium Futures Contract) soared up +6.35%/+11.8% to 60.40$/lb, an over 42$ rise/+235% from the bear bottom in November 2016 & a new 11-year high!
This fresh incoming bull market energy, combined with the fact that the Uranium Sector is likely to be in an unusually strong bull market cycle in terms of time and price over the longer-term, is a highly explosive mix that could see the relatively tight Uranium Sector double or triple in price in a matter of weeks or months.
Today`s forecast is about the Canadian Cameco Corporation (CCJ) which produces and sells uranium. Back in September we tried to jump the Cameco Corporation (CCJ) fright train, but the calculated Buy-Limit order was far too conservative.
I would like to start the analysis with the big picture of this stock bull. Above is the monthly chart of CCJ shares and the ruling monthly 5 Candle GUNNER24 Up that has worked perfectly to date with stand of TOTD 9/3/2021, the day of my last CCJ analysis.
As always, you can click here on blue or on the chart above to re-read the analysis of the the bull market and the monthly up setup, including the September prediction!
At that time, we were able to identify a short squeeze that should carry the CCJ shares at least up to the 24$ target. And look closely at the perfect price/time magnet which is formed by the natural big uptarget environment of the 3rd double arc and the highest existing DECADE rail what is a horizontal out of the major countertrend bear market top of 2012. There at about 26$ was the MAJOR uptarget of the short squeeze which ideally should be worked off as soon as the 21-Fib number time magnet on the monthly chart comes into play.
In the end the shares topped out at the so far 28.49$ bull market high which came in textbook at the top of the 21st monthly candle of the bull market. After that, the shares trended as follows ...
Above is the monthly chart by week close. Please watch closely the prominent highs of the bull market candles # 19 to # 21 which together spiked into the combined MAJOR resistance of the DECADE resistance horizontal and the 3rd double arc, only to successfully retest the lower line of the 2nd when the # 23-low occurred. Thus, the lower line of 2nd is now the lowest confirmed major GUNNER24 Support on monthly base.
The monthly # 21-Fib number top marks an ideal perfect price/time bull market top, therefore means a very important bull market extreme which IF overcome should mean another very-strong bull market buy signal!
At # 23-low the next monthly upcycle started that at official week close PRECISELY is at the important resistance of the upper line of 3rd double arc from below. By this very recent conspicuousness the setup still traces the intentions of the market participants very perfectly. Therefore the signals that this working setup fires should be probably as valuable as gold.
Underway March 2022 candle is the 25th of the bull run, and I tell you now that with a 85 % probability the combined MAJOR resistance magnet of the DECADE horizontal and the upper line of 3rd double arc will be FINALLY broken to the upside within days.
A final overcoming of this magnificently confirmed most important bull market resistance magnet should then trigger further powerful bull market upforces, so that the next higher monthly GUNNER24 Uptarget of the lower line of 4th double arc should be hit or worked off „quite quickly".
The possibly due lower line of 4th double arc uptarget runs near the 33$ surroundings for the March 2022 candle and the next few coming candles. This 33$ might be the shortterm uptarget for CCJ shares also because a 33$ within weeks is a COMBINED weekly and monthly GUNNER24 Double Arc uptarget magnet:
This above time/price ruler is a weekly 13-Fib number up setup what spanns from important higher bull market low of # 1-August 2021 (Aug21) into the so far # 13-bull market high.
I always call setups that exactly respect one of the Fibonacci numbers textbook, because we have ecplored that first waves or impulses that exactly follow the Fib numbers also have the best chances of success. Signals then have 70%, even up to sometimes well over 80% probability of reaching their released targets.
This setup fires that the circular Blue Arc above should mean heavy future resistance. For sure, it should radiate heavy resistance energy on week high and weekly closing base, but normally it also radiates heavy resistance on a yearly basis, as it is future circular arc resistance out of current bull market high or the highest traded price of the year 2021.
And for this trading week, the 30th candle of the weekly upcycle which began at # 1-Aug21 low, the very first weekly close above this natural Blue Arc resistance rail is seen!
==> CCJ shares sealed a # 30-Blue Arc buy signal, by this activating the future work off of the lower line of 1st double arc in (bull market) trend direction.
If you also look at the insanely bullish combined MACD lines & histogram buy signal it may be normal outcome that this weekly upcycle is poised to reach the lower line of 1st around the 34th-Fib number week of the upcycle, right? => The 1st double arc uptarget for the 34-Fib number time magnet is at the 33$, therefore the identified shortterm uptarget is a combined weekly and monthly GUNNER24 Double Arc upmagnet at 33$ which could be reached quite ideally regarding time and price around the 34th uptrend week!
==> Shortterm uptarget at 33.00$. The forecast is that it normally will be worked off within coming 4 to 5 trading weeks!
The Blue Arc means an important backtest magnet for the next few days, after all, it could even radiate energy on a yearly basis! This plausible future weekly Blue Arc support should be bought during the next week!!
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