Market preview – week of August 5, 2019

Summary

  • The S&P500 index is expected to have a brief oversold bounce this week. But any price movement this week is unlikely to change the short-term downside trend direction.
  • Oil is expected to bounce from $52.50 area and maintain the price in a narrower range
  • GOLD is expected to hold above the $1410 line to return to last week’s high area.

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