Investing in March is bringing some new challenges to the world. If you have had massive success in Technology investing in the last ten years, then this article is for you.
I am trying to divert your attention to the explosive setup showing up right now!
Three charts that are on my must watch list are the charts of Copper, Oil and Gold.
Notice the similarities of the Copper pattern so far to the historical pattern in 2005.
The prior weekly closing high in 2011 was $4.58. In 2021 we tried to break and hold above that level but retreated. This week, another sudden surge looks ready to smelt some copper at an all-time high. The previous pattern saw copper triple as it broke out and surged for a year. If that happens again, Copper would be $14. My suggestion is that even $7 would be a remarkable surge. Stay tuned as we are literally right there right now.
The second chart that is giving us roughly the same pattern as copper is crude oil. The breakout there was $37 to $145 which was a 4x move. That would suggest oil soaring to $440. OK. Even I can’t get my head around $440 but a double to $220 would be possible! The previous breakout was 2005.
For investors, the same pattern setup is in Gold. Guess when that breakout happened. Yes, it was also in 2005.
I don’t think it is a fluke that these big patterns are setting up on all the charts at the same time, like they did back in 2005.
Stay tuned for the ride!
Good trading,
Greg Schnell, CMT, MFTA