Bruce Powers
Financial Analyst
Chart Analysis: Sellers Remain in Control as Natural Gas Hits New Retracement Low
Natural Gas Forecast Video for 01.02.24 by Bruce PowersNatural gas put in an outside day today as it...
8 months ago
Gold’s Conflicting Signals: Bullish Breakout but Weak Follow Through
Gold Forecast Video for 01.02.24 by Bruce PowersAlthough gold is triggering bullish signals, the adv...
8 months ago
Natural Gas Price Forecast: Bullish Weekly Reversal Points to Higher Prices
Natural gas triggered a bullish reversal on Monday in both the daily and weekly time frames, as it advanced above Friday’s high and then exceeded last week’s high of 1.83. It continues to trade near the highs of the day at the time of this writing and is...
6 months ago
Silver Price Forecast: Weekly Bullish Breakout Triggers
Silver pulled back to support last week around the 38.2% Fibonacci retracement and 20-Day MA with a low of 24.33. It was followed by an advance Friday and again today, Monday. Monday’s rally triggered a bullish weekly breakout above last week’s high of 25...
6 months ago
Gold Price Forecast: Set to Close at New High, Higher Targets in Sight
Gold reached the 2,277-target zone today on a new trend high. This is the fifth day up for gold and it is set to close at a new record high again today, Tuesday. Momentum remains strong and although there might be a pause before prices move higher, demand...
6 months ago
Natural Gas Price Forecast: Breakout Potential Above 50-Day MA
Natural gas rallies to test resistance around the 50-Day MA with the day’s high of 1.88. So far, resistance has been seen off the high leading to a minor intraday pullback. Nonetheless, at the time of this writing, natural gas is on track to close strong,...
6 months ago
Bitcoin Price Forecast: Falls Below Key Moving Averages, Bearish Signs Emerge
Bitcoin shows clear signs of weakening today as it falls below the 20-Day MA and an internal uptrend line. This follows a seven day relatively sideways move that tested a resistance zone with a high of 71,790. Demand was not strong enough to take it highe...
6 months ago
Silver Price Forecast: Surges to New High, Bulls in Control
Bullish upward momentum took silver to a new trend high of 28.09 on Monday and it is on track to close strong, above last week’s high and in the top third of the day’s trading range. Silver was up by 1.81 points or 26.1% from the February 28 pullback low...
6 months ago
Natural Gas Price Forecast: Daily Bullish Reversal Signals End to Pullback
Natural gas triggered a daily bullish reversal on Monday, pointing to the likely completion of a three-day correction. Following a new pullback low of 1.75 earlier in the session and test of support at the purple 8-Day MA, also at 1.75, natural gas turned...
6 months ago
Gold Price Forecast: New Record High but Faces Potential Resistance
Gold looks to have stalled on Tuesday, following a new record high of 2,365 reached earlier in the session. It hit a potential resistance zone yesterday, based on Fibonacci confluence. The confluence zone shown on the chart is confirmed by more Fibonacci...
6 months ago
Natural Gas Price Forecast: Moving Average Breakout Improves Bullish Outlook
Natural gas closed above its 50-Day MA for the first time since mid-January on Monday. That is a sign of strength that should see demand increase in the coming days. A teaser occurred today as natural gas rallied above the recent 1.91 minor swing high bef...
6 months ago
Bitcoin Price Forecast: Signs of Strength or Impending Failure?
Bitcoin broke out of a bullish pennant pattern on Monday, but by Tuesday it was showing signs of weakness. Following Monday’s breakout high of 72,777 Bitcoin retraced all of Monday’s advance and then fell below Monday’s low of 69,037. That put it right ba...
6 months ago
Natural Gas Price Forecast: Hits New Trend High and Pulls Back
Natural gas continued its advance on Wednesday with a new minor trend high of 1.94. Although Tuesday’s closing price relative to the day’s range was not particularly strong, it did manage to close at its highest daily closing price in 23 trading days. Tod...
6 months ago
Gold Price Forecast: Sellers Take Charge for the Day
Gold triggers a short-term bearish signal on a drop below yesterday’s low of 2,337. Also, it is on track to close below that level further confirming weakness and increasing the chance for a deeper pullback. As of this week’s new record high of 2,365, gol...
6 months ago