Rally base drop forex

Kitco’rally base drop forex global trading director Peter Hug, cautioning traders to hold onto their gold investments. This market is extremely nervous . Hug told Kitco News on Friday, saying that any slight movement in the political sphere can have massive repercussions on the stock market. Gold’s price pattern during the last month of the year will likely resemble that of December 2016, Hug added.

The charts look similar to 2016 in December, where the first part of the month looks like it might be weaker and then rally through December back into January. One of the main reasons for a rally is that the market already priced in the December rate hike by the Federal Reserve, Hug pointed out, adding that the central bank is unlikely to be as aggressive as estimated by analysts in 2018, which would boost gold. Some analysts indicated that the Fed may three or four times next year. I just don’t see it in the cards, unless there is some really significant uptick in growth in the U. Either way, for those interested in trading the technical levels by buying support and selling resistance, there will be plenty of opportunity throughout December to make money, according to Hug.

But, the equity market could be rallying prematurely, Hug added. The equity markets have priced in an absolutely perfect scenario of tax plan going through. I still don’t think the jury is out on that call. And I am still not convinced that the tax reform will get that type of growth they are anticipating. Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. This article is strictly for informational purposes only.

It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Featuring views and opinions written by market professionals, not staff journalists. With all the panic in equities Tuesday, the metals did not rally enough, indicating that they are headed lower. 40, where they should find some support. The metals markets look weak, especially when looking at the troubles equities are having. The action should have created more upward momentum in the metals, but it did not.

This suggests that the top end of consolidation is going to hold, and we should now see a retest of the bottom end. This is great action for short-gold, long-silver trade. Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco’s global trading director Peter Hug, cautioning traders to hold onto their gold investments.

This market is extremely nervous . Hug told Kitco News on Friday, saying that any slight movement in the political sphere can have massive repercussions on the stock market. Gold’s price pattern during the last month of the year will likely resemble that of December 2016, Hug added. The charts look similar to 2016 in December, where the first part of the month looks like it might be weaker and then rally through December back into January. One of the main reasons for a rally is that the market already priced in the December rate hike by the Federal Reserve, Hug pointed out, adding that the central bank is unlikely to be as aggressive as estimated by analysts in 2018, which would boost gold.

Some analysts indicated that the Fed may three or four times next year. I just don’t see it in the cards, unless there is some really significant uptick in growth in the U. Either way, for those interested in trading the technical levels by buying support and selling resistance, there will be plenty of opportunity throughout December to make money, according to Hug. But, the equity market could be rallying prematurely, Hug added.