BrucePowersCMT

BrucePowersCMT

Strong bullish move for EUR/JPY as it decisively breaks out to a new trend high, and clearly moves above the 34-week exponential moving average (ema) (orange line on weekly chart below). The 34-week ema has acted as resistance since approximately September 2018. In addition, the internal downtrend line has clearly been broken, another bullish sign. The odds now...

BrucePowersCMT

Summary • TASI / KSA break out of bull head & shoulders bottom trend reversal pattern. • Indicates continuation of long-term upward sloping trend channel. • Key Fibonacci zone targets marked on enclosed charts. Bullish reversal is indicated as the Tadawul All Share Index (TASI) (Saudi Stock Market) breaks out of a head & shoulders bottom reversal pattern at the...

BrucePowersCMT

Summary •Potential Bull Flag continues to form, with Bitcoin falling as much as 52.9% from its 2019 peak. •Nevertheless, a drop below the most recent low has Bitcoin next targeting the $5,900 to $5,427 price support zone. •Recent weekly bearish moving average crossover adds to likelihood of further downside. Bitcoin (BTC/USD) topped out at $13,868.44 in June of...

BrucePowersCMT

• Technical analysis update for the SPDR Gold Shares ETF (GLD). • Long-term bullish continuation anticipated once current correction is completed. • Looks like a deeper retracement may come in the near-term, before resumption of the rally. Long-term breakout Following the August 2018 swing low of $111.06, GLD rallied 32.2% to the September 2019 high of $146.82....

BrucePowersCMT

Summary *Once current retracement is complete the USD/JPY has a good chance of exceeding last week’s high. *Pair still in early stages of following through on bullish breakout of a large head and shoulders bottom. *Upside target zone around $110.51 to $110.70. Following an upside breakout of a large head and shoulders bottom pattern several weeks ago, the USD/JPY...

BrucePowersCMT

SUMMARY Bearish doji candlestick pattern occurs after seven days up followed by a second high, leading to a potential double top. Activity occurs on test of neckline of large bearish head & shoulders topping pattern. Potentially significant drop possible to below most recent swing low. A bearish daily Doji candlestick pattern occurs in Bitcoin Cash...

BrucePowersCMT

Ethereum (ETHUSD) $ETH #Cryptocurrencies broke out of a large multi-month symmtrical triangle formation on November 23. Since then is has advanced as much as approximately 64.5% as of today's 626 high, and 60.5% in just the past six days. Today's rally reached the minimum target derived from the large triangle pattern, at 625.80. The triangle target (minimum...

BrucePowersCMT

Summary • Strong bullish trend continuation signal • Several, likely temporary initial targets derived from multiple Fibonacci measurements • Watch for temporary retracements for new opportunities to enter Bitcoin (BTC/USD) breaks out with conviction to a new record high as it moves above the prior peak of $4,979.90 reached in the beginning of September. That...

BrucePowersCMT

Summary • Bitcoin forms potential Head and Shoulders Top at resistance of Fibonacci confluence • Breakdown likely leads to a -29% or greater correction www.talkmarkets.com

BrucePowersCMT

Pair hitting potential time cycle support at prior swing low price support with bullish Hammer daily candle formed on Friday.

BrucePowersCMT

Brent crude may be about to drop through its current support zone that ends at $79.35, derived from multiple Fibonacci confluence. If that happens then a continuation of the decline to the next support zone, starting around 71.03, becomes likely. Alternatively, an intraday reversal above $79.35, could see a rally from the current support zone. Note that the...