URA’s Breakout: Uranium Miners ETF Rally Gains Steams

The Global X Uranium ETF ($URA) offers investors a way to invest in a basket of global companies involved in the uranium mining and nuclear components industry. As a thematic fund, it seeks to benefit from the growing demand for nuclear energy as a clean power source. URA holds a diversified portfolio of companies involved in the full uranium value chain, from extraction and refining to exploration and equipment manufacturing. Below we will look at the Elliott Wave technical update for the ETF.

URA Elliott Wave Chart Monthly Chart

Monthly Elliott Wave chart of Uranium Miners ETF (URA) above suggests it has ended wave ((II)) Grand Super Cycle degree at $6.95. The ETF has started a new bullish cycle in impulsive structure with extension. Up from wave ((II)), wave I ended at $31.6 and pullback in wave II ended at $17.65. It has nested higher with wave ((1)) ended at $33.66 and wave ((2)) dips ended at $19.5. While above $6.95 low, expect the ETF to extend higher.

URA Daily Elliott Wave Chart

The daily chart of the $URA ETF above shows rally from wave ((2)) low on April 7, 2025 low is unfolding as an impulsive structure. Up from there, wave (1) ended at $42.22 and pullback in wave (2) ended at $35.64. As far as pivot at $19.5 low is holding, expect the ETF to extend higher.

Source: https://elliottwave-forecast.c...