According to a number of media reports I have read Wednesday, Russia said it will restrict trade in some goods and raw materials in response to sanctions from the West. These reports, so far, do not spell out what commodities might be involved and what countries might be targeted.
Some savvy analysts are watching uranium prices as the top-five countries that supply the U.S. its uranium needs are Canada, Australia, Russia, Kazakhstan and Uzbekistan.
There are not a lot of companies or securities in this "space" but let's look at a couple of ideas.
Sprott Physical Uranium Trust Fund
The Sprott Physical Uranium Trust Fund (SRUUF) (CA.U.UT) is fairly new and was started by the Canadian asset manager Sprott. They manage a number of precious metals and real asset funds.
In the daily bar chart of The Uranium Trust (CA.U.UT) we can see a bullish picture. Prices rallied strongly in August and then formed a large equilateral triangle formation. Prices broke out to the upside in late February. The height of the pattern at its beginning is C$5.50 and when that is added to the breakout level we get a C$19.50 price target. Prices are above the rising 20-day and 50-day moving average lines.
Trading volume has increased this year and the On-Balance-Volume (OBV) line shows a rise for its limited history. The Moving Average Convergence Divergence (MACD) oscillator is bullish.