Market preview – week of Dec. 14, 2020

Summary

  • The S&P500 index is expected to trade within the 3725 to 3600 range in the early week., After the Fed policy statement Wednesday it could go down further if the statement is regarded as unfavorable or unexpected.
  • Oil is expected to hold the support around $42.50 if there is a short-term retracement this week.
  • GOLD is expected to go above the $1800 support and below the $1855-75 resistance before Wednesday. After the Fed announcement, Gold may pop up to the overhead resistance line or dip to the C destination level to bring buyers in.

Full weekly preview

Download link: (201214-weekly.pdf, 655KB)

 

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