Market preview – week of May 4, 2020

Summary

  • The S&P500 index  is expected to test the  20-dEMA line and drop below that line this week. However any decline should hold above the 2650 level.
  • Oil  is expected to go up to the $25 area if: a) the price manages to hold above $18 and b) it moves past $21.25. Otherwise, oil could retrace to retest $14.50-$15.00 before it bounces again.
  • GOLD  is expected to test its 50-dEMA line at the $1655 area. However It should hold above $1650 if the equity market declines this week.

Full weekly preview

Download link: (200504-weekly.pdf, 1.22MB)

 

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