I have been watching lumber for sometime, I have been expecting this gap to fill. What happens from there I do not know. A possible accumulation range could form. There might be some scalp money here for someone short term. Not financial advice. DYOR.
very nice large time frame setup, fundamentals are strong
We have multiple reasons to believe that lumber futures are being accumulated heavily here in 2023, with a very large spike in volume. And if you look at volume profile, you will see that a lot of transactions are happening at this price. I have also confirmed with a local lumber supplier here in the PNW USA that the market for lumber and housing is indeed more...
Lumber proves to be an interesting one! Are we witnessing the first effects of a bullwhip? Will we reverse out of the triangle or trickle into the accumulation zone? Not financial advice, DYOR.
We a long on Lumber Futures. First Level TP at 600
Lumber prices are trading near their 2021 low as prices extend a multi-week losing streak. A break below 452.2 would likely induce further weakness, and the chart setup appears biased for more pain. However, if bulls defend that level, a Falling Wedge offers a potential breakout chance, but it would first require prices to rise to and break wedge resistance.
We wouldn’t blame you if you mistook the lumber price chart with a cryptocurrency. Down more than 70% from its peak in May 2021, lumber’s had astonishing volatility over the past few years. On a longer-term chart, the 460 handle represents a very long-term support/resistance level. With current Lumber prices just shy of this major support level of 460, could we...
My chart idea illustrates a confluence of fundamental and technical analysis which leads me to believe a long trade in the Lumber futures market may getting close. On the fundamental side: - We have seen Commercial buyers become net long for a whole month, last time this happened was mid 2020 and this then led to a ~130% price rise over 2 months when the price...
Whenever I open up a chart of any asset I like to look at the big picture first pulling up the oldest chart I can find. With Lumber chart I could instantly recognise a pattern called diagonal. I labelled it a Supercyclic wave as it has taken nearly 48 years to complete. After the competition of this pattern usually you can expect a bear market as a correction....
Lumber prices on the rise again and could be part of this CD wing...
Some interesting factors are currently affecting commodity prices. Supply chain bottlenecks, unpredictable demand from economies reopening, geo-political tensions, climate change policies are just a few examples. I find it helpful to review the state of the commodities market periodically. In this article, we will examine Lumber, Cash Crops, and Iron Ore. ...
LBS1! lumber futes has pulled back to the yearly pivot point(P). The Yearly pivot is where fair value for this year is.
I always find it funny to hear people say it's down X amount blah blah without looking at the chart. As posted a while back Lumber was up 577% since then it has collapsed on a dime. Now at support. for a bounce. great risk reward
Idea for Lumber: - Lumber has a good short setup. - By Elliot Wave Theory, correction needs another wave down. - Possible continuation on downtrend, if Wyckoff Distribution is confirmed. TP1: 1100 PT: 400 GLHF - DPT
the answer to this question will blow your mind: Lumber outperforms Tesla in the past trading year by 33%. This gap is 80% YTD. Interestingly, lumber outperforms 9 out of 10 stocks in the market, and 85% better than bitcoin in 2021. Investing is the right time and the right asset. We should accept the reality that anything can happen in the market at any...
Lumber continues to surge, hitting a new recored 6m ROC. It is also right around the 1.618 extension of the all-time low to the '93 high (the only other period with a price spike of similar magnitude).
Lumber prices have more than quadrupled over the past 12 months, causing the price of an average new single-family home to increase by $35,872 (source: National Association of Home Builders). MMT free money for all thx to excessive deficits has painted us into a corner and getting worse fast. For over a year I have been told I am too negative it's just...
Thanks Janet! Here are lumber futures not overheating.