Uranium prices have recently stabilized, but it has been quite a volatile ride. I saw that the metal is now oscillating around $89-90 per pound, which is an interesting level after the wild surge at the beginning of the year. I remember that as recently as July last year, uranium was below $80, then suddenly jumped to $100-102. Now it's correcting, but staying above the support at $85, which suggests that the bulls are not completely out of the game.

Interestingly, on X, I saw several posts from uranium analysts saying that the oversupply from previous years is gradually ending. They talk about tightening supply and increasing demand due to the development of nuclear energy worldwide. If that's true, it could support long-term prospects for uranium prices. Stocks like OKLO and LEU also show significant volatility, attracting momentum traders.

On the other hand, the Global X Uranium ETF is performing worse. It fell from $62-63 to around $52 and is now consolidating. Support is at $50-51, and if that breaks, there could be problems down to $47-48. Technical signals are not very strong; RSI is near neutral. The uranium price is holding up better than the ETF, which is interesting.

Personally, I am watching these levels. If the uranium price stays above $85, it could test $90-100. But if it breaks that support, a pullback to $75-78 could happen. The market is dynamic, so it’s worth monitoring both supply and technical resistance and support levels.