Market preview – week of Mar. 9, 2020

Summary

  • The S&P500 index  is expected to hold above the 2850 level, but if the bounce can’t get above 3150  a breakdown should be expected.
  • Oil  is expected to have new lows first before it bounces. The bounce will likely remain below the re-test of the broken support around $49.50.
  • GOLD  could whipsaw in both directions this week to trap both buyers and sellers. The direction of the next price move is uncertain. This week watch $1700 for a rally or $1635 for a decline.

Full weekly preview

Download link: (200309-weekly.pdf, 1.26MB)

 

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