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Uranium Miners ETF (URA) Back on Bullish Path

The ticker symbol URA corresponds to the Global X Uranium ETF, an exchange-traded fund (ETF) listed on the NYSE Arca. Launched on November 4, 2010, and managed by Global X Management Company, this fund aims to provide investors with exposure to the uranium industry by tracking the Solactive Global Uranium & Nuclear Components Total Return Index. This index includes a diversified portfolio of global companies engaged in uranium mining, exploration, production, and related activities, such as the development of nuclear power technologies. Below we will look at the Elliott Wave technical outlook for the instrument. URA Elliott Wave Chart Monthly Chart The monthly chart of the URA ETF reveals that it completed wave ((II)) of the Grand Super Cycle at a low of 7.01. Since then, the ETF has been advancing in a clear impulsive structure. From the March 18, 2020 low, wave I peaked at 31.60, followed by a wave…