Market preview – week of November 25, 2019

Summary

  • The S&P500 index may continue pulling back early in the week, but price is expected to push back up at the end. Watch the 3075 support line, which controls any possible retest of the 3020 area. This is a short week with trading disrupted by the US Thanksgiving holiday.
  • Oil  is expected to hold up the $57 level for the next breakout move above $58.50. If the breakout fails, there could be a retracement to the $55.50 area where we should see buyers showing up.
  • GOLD  is expected to move down to retest the $1460-45 zone and to build a short-term support level.

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