Market preview – week of December 30, 2019

Summary

  • The S&P500 index has a very short-term overbought condition,  volume could be the same as last Friday, the price is expected to have a pullback into the 3210-12 zone. But holiday emotion will help to hold the price up until next week.
  • Oil  is expected to retrace near $59.50 area if it fails to move above $62.25.
  • GOLD  is expected to hold above $1495 level for rest of week. If there is a decent retracement it will be seen as an opportunity by the buyers.

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