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About Uranium Stocks
Uranium Stocks was created to give investors a diversified look at uranium shares, spot prices, options markets, ore and production, canadian reverses and any other relevant issues that may affect shares prices across the globe.
Uranium Spot Price Continues to Decline
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Uranium Spot Price Continues to Decline
The spot price of uranium continues to remain in a downward cycle, reaching $57. About a month ago we discussed the uranium spot price hovering right around a short-term resistance level. It now appears that the price has busted right through this level.
Uranium spot price (1 month) via infomine
With the short-term level broken, where will the price ultimately go? I’m not sure but it does appear that we can expect to see more weakness in the price in the coming weekly spot market updates. $50 will be a symbolic and emotional price level and one to keep an eye on in the coming three or four price updates. If we break through that level we should see media updates and BNN pundits highlighting uranium’s swift decline.