Can anybody see a similarity between 2003-2004 and current price action behaviour on this MONTHLY LINE CHART of All Ords “XAO” in the main window and Dr Copper at the bottom window ? Look at the turning points for a clue.
In terms of their respective trends, both are considered to be in a MAJOR UPTREND. Dr Copper may be about to complete it’s correction (counter trend move) at current levels. If and when the correction is done and dusted and yawning is over with Dr Copper, repetition of the period from 2003-2007 may well unfold once again.
Wouldn’t that be nice ?
Chart is courtesy of StockCharts.com
Click on chart to enlarge it.
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