Market preview – week of Feb. 24, 2020

Summary

  • The S&P500 index  is expected to make a new high around 3400 this week. Because this is the Major February option expiration week, we may see reduced volatility into Friday.
  • Oil  is expected to hold above $50-$49.50 zone this week and challenge the overhead resistance line (neckline of double bottom pattern) in an attempt to bounce further.
  • GOLD  is still expected to hold above the $1550 level and continue struggling to go back to the high near the $1610-$1620  level.

Full weekly preview

Download link: (200224-weekly.pdf, 1.29MB)

 

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