Price Forecast:

Bullish Case: Bullish sentiment is driven by rising global uranium demand and regulatory support for nuclear energy, with historical price patterns showing strong long-term returns, suggesting potential upside movements into early 2025.

Bearish Case: Bearish outlook stems from high implied volatility and underperformance against prior price levels, risking a detachment from recent bullish narratives, particularly if geopolitical tensions escalate.

Potential Outcomes:

1) Price rises above $60 due to ongoing demand (40%).

2) Stabilization around current levels of $46 (35%).

3) Decline towards recent lows around $31 due to negative headlines (25%).

Trading Oracle: Engage in a short put spread by selling the $46 put and buying the $44 put, expiring soon to capitalize on elevated implied volatility. This strategy offers an estimated 80% probability of profit while maintaining a favorable risk/reward profile. Consider implementing this for near-term positive edge.

November 13, 2024