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$SLX There is a 70% chance of a modest technical rebound today; this is a recovery move after being oversold.
The probability of a strong sustained rebound and a trend reversal turning bullish is only 25%; with no major catalyst, the market will likely face pressure and pull back after the rebound.
The remaining 5% chance: the broader market moves bearishly in one direction, driving SLX to continue its slow decline; with no rebound, it will hit new lows directly.