Markets might be marking a top, says Zak Mir, Technical Analyst for Zak’s Traders café, as he joins today’s Tip TV Finance Show, along with Nick Batsford, CEO at Tip TV, and Mike Ingram, Strategist at BGC Partners, to discuss the key macro events, Gold prices and the outlook for single stocks – HTG, KAZ, esure, Randgold Resources, British lands, Tullow Oil and Smiths Group.
FOMC Minutes: key event
Speaking on the recent Paris attack and the subsequent market reaction, Ingram says that the markets remain resilient.
Commenting on the markets, Mir notes that the FOMC Minutes ahead remains key for outlook, and he adds that the markets might be marking out a too, with not much buying momentum present.
Single Stocks: Hunting PLC, Kaz Minerals, Esure group
Ingram offers the outlook for 3 stocks which were subjected to broker upgrades/downgrades, while Mir shares the technical outlook and targets for the same.
Hunting PLC: Well managed company, Looking for a pickup next year. Technically, possibility of a dead cat bounce in share prices.
Kaz Minerals PLC: If Copper price forecast are correct, this might mark a bottom in the share price. Technically, higher low versus September, 10-12p of upside.
Gold breaks below key band of support
Batsford highlights Colin Twiggs’ ‘view on Gold and the DXY – Gold having broken below the primary support band between $1080 and $1100, while a DXY break above 100 could see upside towards 107.
Batsford also highlights FXStreet, who maintain the view that FOMC Minutes ahead could reinforce the December liftoff bets and maybe guide Gold prices lower towards $1050.
Single Stocks
Randgold Resources: Mid-range. Best of the Gold plays on the London market. Optimistic on the share price British Lands: Rangebound Tullow Oil: Mid-range, Needs a move above the 50DMA. Smiths Group: Failure at the 50 DMA
Sterling is going nowhere, says Mir. For further insights, watch the video
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