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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.


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.

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