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Chart 1 - The 20-week cycle bottoms are indicated by the up arrows. The uptrend continues as indicated by the red EMA being above the blue and expanding, following the drop into the 4-year cycle bottom that occurred with a 16-week cycle bottom testing the lower Keltner Band. The 20-week cycle has topped within the green timing band, and prices are likely to find support near the 38% retracement at 1144, and the lower purple channel line which is confluent with the red EMA line.

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Chart 2 - This shows a clearer picture of the previous chart. The blue 10-double stoc is at the 20 level and likely to drop lower over the next week or two as the 20-week cycle bottoms, probably above the 38% retracement level at 1144. Notice how the red EMA is clearly expanding above the blue EMA, an indicator of a strong uptrend, and higher prices following the bottom of the 20 week cycle. The red EMA is likely to flatten a bit as prices drop into the 20-week cycle bottom.

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