Global X Uranium ETF
Investment Thesis
URA has collapsed through its 200-day moving average on heavy volume, with relative strength vs. SPY hitting 1-year lows. Bears are firmly in control: price is below both key SMAs, MACD is diverging negatively, and the URA/SPY ratio has broken beneath both its own 50d and 200d MAs — the path of least resistance points to the $38–40 support zone.
Catalysts to Watch
URA broke decisively below its 200-day SMA ($49.73) on June 5 with volume of 7.6M shares — roughly double the recent daily average — confirming a distribution pattern after a 22% three-week decline from the May 11 high of $58.12.
Why It May Work
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Timeline
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