Our exposure to resources and energy is at 42% of our total portfolio — with a big chunk in uranium stocks that continue to show growing signs of support with upside potential, explains Omar Ayales, chief strategist and editor for Gold Charts R Us.

The energy market is supporting crude oil above the December uptrend near $95, and opening the door to a continued upmove to the recent highs near $125. For uranium producers it confirmed key support levels above the lows since 2021, opening the door for a stronger, continued upmove.

Artero Resources (AR) has been a shining star. We bought some recently at the bottom of the January 2022 uptrend, just above $30. The leading indicator is bullish but it too has risen sharply from the lows.

Expect a pull back; take advantage of weakness and buy more below $35. AR remains bullish above the Jan uptrend, and if it breaks above $40, it could then rise to the top side of the upchannel near $60. I'll be looking to buy more on weakness.

Coterra Energy (CTRA) continues to jump up with strength, breaking a recent short-term resistance area and showing room for more upside. CTRA looks strong and has solid support above the August 2021 uptrend near $25. It’s now reaching $30 and if it breaks clearly above this level, it’s off to the races!

NexGen Energy (NXE) continues to show strong signs of support at the July 2021 low near $3.50. If NXE can now hold above $4, it could stage a rally to its next short-term resistance at $5. If this level is broken, a rise to the November highs near $6.50 would then be likely. NXE is another company with enormous upside potential.

Uranium Royalty Corp. (Vancouver: URC) is confirming support above the March 2021 lows as it rises above the CA$3 resistance level. By staying above $3, it means the rebound rise could test the October 2021 downtrend near $5. A break above this level and it’s off to the races. The leading indicator below continues to build upside momentum.

UR-Energy (URG), like our other uranium shares, is holding above support since February 2021 and breaking above short-term resistance. If it now stays above $1.20, a stronger rebound is developing that could push URG to the November downtrend near $1.70. A break above this level could open the door to further upside.

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