Market preview – week of August 17, 2020

Summary

  • The S&P500 index  is expected to go up first and retrace later. The market is currently close to the previous high with high volatility — not good for the buying side.
  • Oil  is expected to stay inside the range marked by the 200- and 50-wEMA lines first. But a range expansion move is possible and shorts need to watch out for it.
  • GOLD  is expected to have more profit taking early in the week and bounce from the $1850 area later in the week.

Full weekly preview

Download link: (200817-weekly.pdf, 679KB)

 

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