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
We are not authorised by the Financial Conduct Authority of England and Wales. The information and/or data on this website is provided by us and any data providers which may be used by us for your general information and use only and is not intended for trading purposes or to address your particular financial or other requirements. In particular, the information and/or data on the website:
(1) does not constitute any form of advice (financial, investment, tax, medical, legal, spread -betting or otherwise); and (2) does not constitute any inducement, invitation or recommendation relating to any of the products listed or referred to; and (3) is not intended to be relied upon by you in making (or refraining to make) any specific investment, placing any bet or making any other decision; and (4) has not been issued or approved by Tip TV for the purposes of section 21 of the Financial Services and Markets Act 2000 (as amended from time to time).
Opinions expressed by speakers in the videos, writers of the blogs are only opinions and not expert advice. These opinions do not necessarily agree with those held by Tip TV, its directors, agents or employees who disclaim any intent to make betting, securities or securities markets recommendations. The value of investments and the income derived from them may fall as well as rise. APPROPRIATE EXPERT INDEPENDENT ADVICE SHOULD BE OBTAINED BEFORE MAKING ANY INVESTMENT, PLACING ANY BET OR MAKING ANY OTHER DECISIONS.
Recommended Content
Editors’ Picks
EUR/USD clings to gains above 1.0750 after US data
EUR/USD manages to hold in positive territory above 1.0750 despite retreating from the fresh multi-week high it set above 1.0800 earlier in the day. The US Dollar struggles to find demand following the weaker-than-expected NFP data.
GBP/USD declines below 1.2550 following NFP-inspired upsurge
GBP/USD struggles to preserve its bullish momentum and trades below 1.2550 in the American session. Earlier in the day, the disappointing April jobs report from the US triggered a USD selloff and allowed the pair to reach multi-week highs above 1.2600.
Gold struggles to hold above $2,300 despite falling US yields
Gold stays on the back foot below $2,300 in the American session on Friday. The benchmark 10-year US Treasury bond yield stays in negative territory below 4.6% after weak US data but the improving risk mood doesn't allow XAU/USD to gain traction.
Bitcoin Weekly Forecast: Should you buy BTC here? Premium
Bitcoin (BTC) price shows signs of a potential reversal but lacks confirmation, which has divided the investor community into two – those who are buying the dips and those who are expecting a further correction.
Week ahead – BoE and RBA decisions headline a calm week
Bank of England meets on Thursday, unlikely to signal rate cuts. Reserve Bank of Australia could maintain a higher-for-longer stance. Elsewhere, Bank of Japan releases summary of opinions.