Market preview – week of Feb. 10, 2020

Summary

  • The S&P500 index  is expected to retrace back near the 3225 level this week. But the lack of safe investment alternatives will continue to bring new international buyers into the US market. The dip buyers will continue showing up to slow any decline. At the same time, sellers will continue fighting for the index to make new highs — again.
  • Oil  is expected to consolidate around the $50-$49.50 zone for the early week days. If there is no announcement (or rumor) of an OPEC production cut, the price could go lower.
  • GOLD  is expected to hold above the $1550 level and continue struggling to move back toward the high near $1610-$1620.

Full weekly preview (free)

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