Growing signs of upward trend for uranium miners

Brisbane Times reports there is a positive sign for uranium miners despite no change in uranium price.

With uranium projects in Namibia and Malawi, Paladin’s share price has been travelling down from 2007, accelerating in late 2008. Rising into 2009, the price halted in resistance at about $5.50 last June and resumed the downward path. Following the test of the $3.40-$3.50 support in February/March, the price action has become more positive with the potential to tackle its downward barriers around $4.30 and then in the $4.50-$4.70 range. Once clear, a new direction would be established towards $5.40-$5.60 and potentially higher. A drop below $3.50 would endanger the upward potential.

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