Market preview – week of September 21, 2020

Summary

  • The S&P500 index  is expected to hold the price under 3385; if it breaks below the support around the 50-dEMA line, expect the price to go lower.
  • Oil  is expected to have a sideways movement around the channel marked by the 50-and 200-dEMA lines.
  • GOLD  could easily move in either or both directions as the market continues to move back-and-forth within a consolidation zone. The effect is to shake out the “weak hands” — i.e. smaller traders — before the next trend develops.

Full weekly preview

Download link: (200921-weekly.pdf, 668KB)

 

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