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Intraday Price Outlooks For SPY, Brent Oil, DXY And Silver

Intraday Price Outlooks for SPY, Brent Oil, DXY and Silver

SP Index

Looks like a high probability move to 2100 from here. I expect a 50 pct retracement of the 2040 - 2100 rally thereafter.

(Green) If SPX should make a new high still, any sell-off should stop at 50 pct, and then proceed to take out the 2100 resistance.

(Red) If SPX falls more than 60% from 2100, it will probably continue lower.

Brent CO1

Looks like a high probability move to 47.20 - 47.70 from here. I expect a 50 pct retracement to 45.00 thereafter.

(Green) If CO1 should make a new high still, any sell-off should stop at 45.00, and then proceed to take out the 47.75 resistance.

(Red) If SPX falls more than 60% from 47.75, it will probably continue lower.

DXY

(Red) I favor the scenario of one more upside push to 95.00 before a correction to just above 93.00. Then a new rally which will take out 95.00.

(Green) Less likely in my view: A corrective decline from here back to 93.00 then a rally to take out 95.00

SILV

(Red) I favor the scenario of one more downside pull to 16.60 area before a rally back to 17.75. Then a new decline which will take out 16.75.

(Green) Less likely in my view: A corrective rally from here back to 17.75 then a decline to take out 16.75

Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.