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After making a trading cycle low at "C", prices rallied to make a 38% retracement of the move from the high at "B" to the low at "C". Currently, prices have retraced almost 50% as indicated by the test of the middle-horizontal line, and with the oscillator's position at such high levels, it would not be unusual to see prices penetrate the 62% retracement to make a double bottom.

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