Market preview – week of Dec. 21, 2020

Summary

  • The S&P500 index is expected to pullback from the 3735 area early in the week with a bounce back up possible on Thursday. Right now the market is fully relying on the passage of a stimulus plan, and anything that adds to uncertainty in an unexpected way could cause a price drop.
  • Oil is expected to pullback soon, but the $43.25 area will be bought by new buyers.
  • GOLD is expected to go hold above the $1810 level and challenge the overhead resistance line at $1950 if price goes above $1910.

Full weekly preview

Download link: (201221-weekly.pdf, 666KB)

 

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