Bruce Powers CMT Blog | Talkmarkets | Page 1
Technical Analyst and Global Market Strategist

Bruce Powers, CMT has been involved in the financial markets for over 20 years, as an analyst, trader, educator, and writer. Most recently he was Head of Trading Strategy Development at Relentless 13 Capital covering cryptocurrencies. Previously, Bruce was Co-chair and Co-founder of the Dubai ... more

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Strong Breakout To New Trend High For EUR/JPY Points To Further Upside.
Strong long-term trend continuation signal for the EUR/JPY currency pair indicates higher prices and further strengthens a bullish reversal off the early-September bottom.
Technical Analysis Update: Tadawul All Share Index (TASI) - Saudi Arabia ETF (KSA)
Saudi Arabia stock markets signals a bullish trend reversal as it comes out of a head and shoulders bottom formation. This signals a continuation of the long-term upward sloping trend channel with the potential for eventual multi year highs.
When Might Bitcoin Be Ready To Resume Its Bull Trend?
Given the significant advance in the first half of the year, and the related signs of a trend change from bearish to bullish, Bitcoin has a good chance of eventually triggering a continuation of the new bull trend.
Long-Term Potential For Gold Remains Strong!
Taking a technical analysis look of the SPDR Gold Shares ETF we see a long-term bullish continuation anticipated once the current correction is completed. A deeper retracement may come in the near-term, before resumption of the rally.
Larger Bullish Move In USD/JPY May Just Be Getting Started
Once current retracement is complete the USD/JPY has 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.
Near-Term Bearish Signs For Bitcoin Cash
A potentially significant drop is possible to below the most recent swing low.
Next Potential Targets For Saudi Stock Market (Tadawul)
Saudi Stock Market has been in a strong uptrend this year, rising 17.5% year-to-date. As it continues to rise be aware of potential resistance zones, which are discussed here.
Bitcoin Falls Hard Following A 25.5% Rally
Bitcoin finds solid resistance for now. A recent bullish breakout of Symmetrical Triangle bottom dominates the larger view. Watch for support to be found the the resumption of the 2nd leg up off the December bottom.
Saudi Stock Market (Tadawul) At Pivotal Juncture
Saudi Arabia market reaches highest daily close in over 3 year.
Dubai Stock Market Faces Potential Bullish Reversal
Potential inverse head & shoulders bullish reversal setup in daily chart for the Dubai Financial Market General Index (DFMGI). Exposure can also be accessed via iShares MSCI UAE ETF (UAE), traded in the U.S. Although average volume is relatively low.
Further Weakness Will Confirm Bearish Outlook For The Tadawul All Share Index (TASI)
TASI (Saudi Arabia stock market) is poised to breakdown from a large bearish Ascending Wedge pattern. Weakness is apparent over the past couple of months and follows a prior advance. Early bearish signs are already triggered.
Technical Update: Tadawul All Share Index (TASI)
Tadawul All Share Index (TASI) (Saudi Stock Exchange). Larger advance stalls at the 50% retracement zone.Deeper short-term pullback may occur. Followed by advance to new highs.
Following Breakout Of Bull Pennant, Dash Pulls Back To Second Entry Zone
Dash (DASH-X) breaks out of a bullish pennant and subsequently pulls back to test the top trend line of the pattern and the 50-period moving average as support.
Short-Term Trading Outlook For Bitcoin
Potential double bottom trend reversal pattern forms around the 61.8% Fibonacci retracement of the uptrend starting from the September swing low.
Ethereum – Bullish Breakout Of Large Symmetrical Triangle Looks To Be Getting Closer
Since June, volatility in Ethereum (ETH/USD) has been declining with a potentially bullish multi-month symmetrical triangle consolidation pattern forming over that time. Keep in mind that low volatility leads to higher volatility.
New Record High On Bitcoin! Where To Next?
Bitcoin 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.
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