Market preview – week of July 20, 2020

Summary

  • The S&P500 index  is expected to pull back first and bounce later this week. How far the pullback will go depends on how traders react to news of the latest Covid virus infection.
  • Oil  is expected to stay in the range between the 200- and 50-dEMA lines. As long as the $41.50 level is not broken to the upside, oil still could retest the $37 area.
  • GOLD  is expected to retrace to test the $1795 area first, then bounce again  later in the week.

Full weekly preview

Download link: (200720-weekly.pdf, 625KB)

 

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