Said another way, Japan, which once looked as though it had forsaken nuclear energy, is renewing its commitment to the energy source.
Japan, formerly Asia’s largest nuclear power producer, could restart one in every five reactors this year, pushing uranium prices to about $50 per pound, according to analyst estimates. [Favorable Trends Boost Uranium ETF]
“Since breaking out above its recent highs on heavy volume last week, the price has been consolidating for a few days on declining volume. Lighter volume during bullish consolidations is positive because it indicates the sellers are not stepping in while the bulls take a rest,” said Wagner.
Global X Uranium ETF
ETF Trends editorial team contributed to this post.