Skip to content
October 12, 2009 / Jeb

Denison (DNN) Mines Approaching Next Breakout

In a previous post I observed the potential breakout of Denison.  Denison did breakout and moved back to support and now preparing for another move above the previous resistance.  We are observing an inflationary environment as gold and silver has led the way.  Now energy is following and the demand for uranium should significantly increase which should result in higher prices for Denison.  They are actively drilling Wheeler River which should expand their resources.  The chart does show strong accumulation and a potential move higher is highly probable.

DNN

Notice the accumulation and how the price came down to the previous resistance trend line which now is support.  Notice how DNN never broke the 200 day moving average.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: