Global markets have been subjected to unpredictable events in the past one month. Do the technicals suggest that the worst has been priced in? Well, Philip Roth chief technical analyst at Miller Tabak believes so. Though he doesn't see a big sustained move without preparation but a slight new high is possible according to him.
"Resistance for S&P 500 is seen at 1,330-1,340. For the Dow industrial average has resistance between 12,300 and 12,400. I think both these resistance areas can be bettered by a bit by maybe 3-5% but I think we should view this cyclical bull market as in the very mature stages," he told CNBC-TV18 in an exclusive interview.
The commodity outlook
Extremely positive on the metal space, Roth said though he doesn’t see a big move up right now, the long-term patterns seem favourable. "Probably the best-looking stock of all the metals is the least sensitive of all—gold,"
"Resistance for S&P 500 is seen at 1,330-1,340. For the Dow industrial average has resistance between 12,300 and 12,400. I think both these resistance areas can be bettered by a bit by maybe 3-5% but I think we should view this cyclical bull market as in the very mature stages," he told CNBC-TV18 in an exclusive interview.
The commodity outlook
Extremely positive on the metal space, Roth said though he doesn’t see a big move up right now, the long-term patterns seem favourable. "Probably the best-looking stock of all the metals is the least sensitive of all—gold,"
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