Market preview – week of December 9, 2019

Summary

  • The S&P500 index is expected to make new all-time highs early in the week and sell off after the 2:00 p.m. Wednesday FOMC announcement.
  • Oil  is expected to hold up above 200-dEMA line and attempt to break overhead resistance at the $60.50 level.
  • GOLD  is expected to move low first and make a small bounce after the FOMC announcement. However if gold price goes up before FOMC announcement, there is a big chance to sell off after it. The FOMC statement is often followed by a price reversal.

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