Market preview – week of August 10, 2020

Summary

  • The S&P500 index  is expected to hold above 3250 and move higher this week. Any pullback will be bought. But profit-taking can’t be avoided as the index approaches the February high area.
  • Oil  is expected to stay inside the 200- and 50-dEMA lines range first. But it could retrace more if the USD continues to bounce this week.
  • GOLD  is expected to have more profit taking early in the week and bounce from the $1950 area later in the week.

Full weekly preview

Download link: (200810-weekly.pdf, 618KB)

 

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