Crude Oil Bears Down: S&P 500 Faces Contention at 6000 Level
Schwab Network · Schwab Network
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Show Notes
Carly Garner expects crude oil (/CL) to continue its downward trend due to a strong U.S. dollar and OPEC's recent decision to increase production. She believes that while geopolitical tensions could cause short-term rallies, the overall trend remains bearish. In the equity market, Garner sees the S&P 500's (SPX) 6000 level as a point of contention, but is cautious about the upside potential and prefers to be bearish from higher levels, citing the potential for a larger correction.
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