Market preview – week of August 24, 2020

Summary The S&P500 index  is expected to test the psychological resistance at the 3400 level this week. The trading toward the end of the week (and end-of-month window dressing the following Monday) will indicate if the market can break through and maintain a higher level. Oil  is expected to stay under $43.52,  the 200-wEMA line, this week. GOLD  is expected to have one more profit taking move early in the week and bounce from that retracement around the end of the week. Full weekly preview … Continue reading