Market preview – week of August 24, 2020

Summary

  • The S&P500 index  is expected to test the psychological resistance at the 3400 level this week. The trading toward the end of the week (and end-of-month window dressing the following Monday) will indicate if the market can break through and maintain a higher level.
  • Oil  is expected to stay under $43.52,  the 200-wEMA line, this week.
  • GOLD  is expected to have one more profit taking move early in the week and bounce from that retracement around the end of the week.

Full weekly preview

Download link: (200824-weekly.pdf, 680KB)

 

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