1D Lumber looking like a breakoutAs above. Falling wedge breakout with good volume. Bullish divergence on the MACD as well on 1D chart. Target very possible mid $700 if up trend continues. Will follow. Good Luck traders.by AmbassadorjUpdated 2
Is lumber Spiking?This Lumber Weekly chart clearly shows the unique parallell range that confirmed a breakdown. Now to determine what likely happens next we wait to see if we get a close above or below the weekly key channel Resistance line. If rates remain soft we will likely get a continuation move to the upside. by Trading-Capital0
Lumber retracement and rejection :Lumber up to and selling off the 76 fib. Currently bear market continuation 101. Usually see these breaks head to a 220 extension of the rally if they come. Downside target of 240 in lumber. Shortby holeyprofit0
1D: Warped Market Extends Lumber Losses...As above. Inch by inch we are seeing lumber prices tank. We have sawed off nearly 50% from the ATH of $1400. Broke through the $770 target trend line and looks headed for next support at $650 to $670 range at the 0.786 Fib retracement level. by AmbassadorjUpdated 662
Lumber and Cotton profit taking on the short positionsJust looking at the future prices of cotton on the barchart page December 20% lower than july futures Why is everyone trading chart patterns? Simply looking into the backwardation curve gives you a good clue to buy or sell. Will keep you updated before another move DOWN in the commodities Shortby responsibletrad8r0
Lumber 1D: Worst case scenario..continued leg downAs above. MACD has room for more down turn with possible completion of wave 5. Will follow. by AmbassadorjUpdated 2
Any Friend of the Trend is a Friend IndeedHey Traders 👋 As i search for a way to share my next trade I stumbled onto lumber (cash) and look at what just showed up a few weeks back my fellow speculators......... I'll leave it on the chart, allow you guys to do some researching and searching, (RE indicators) 😉 I must use this chart as I can't share my personal chart LBS1! but it is really the same difference. I just don't have to hide my charting techniques and fibonacci retracements, channels & drawings. First, a series of lower lows starting in late January, culminating in a bottom near $450 in mid-2021. Then notice that prices formed a hammer candlestick and bounced at $653.7, followed by another gain on Q4. That suggests lumber has established a higher low – the first step toward potentially resuming its uptrend. It could also be consistent with resolving a bullish move to the upside. Second, the March and May bounces occurred at this very important indicator that began in the last month. (In white on the chart) Interestingly, this line closely tracks price action giving it even more significance. Third, stochastics, rsi, & macd have dipped into an oversold condition. Lbs bounced under similar conditions (for example, late September or early October). Spx es1! nq1! dxy btcusd btc1! Please check out my modus operandi, my magnum opus, my war and peace. My chef-d'oeuvre masterpiece, my great work. My, soon to be, crowning achievement. My piece-de-resistance. You will find it linked below. Have a look, have a cigar, leave a like. Leave a trademark TradingView troll comment. It's a guide to the spx. 😉 Editor's choice in the making 😉. Comments???? Something Something encouraging and insightful? Let's master the markets together. The master and margarita.Longby PoraquituttiUpdated 222
1D: Can't keep my wood up lately....Like down to 780-790 range as it split through support at 900. If it breaks the 780 support then down the worm hole it goes. by AmbassadorjUpdated 1
1D: IOTXUSD vs LUMBER.... Got Wood????As above. Interesting inverse correlation of LUMBER prices with IOTXUSD.... When LUMBER prices drop to local low/bottom, IOTX seems to spike shortly after that. Maximum bull run on IOTX happens soon after the crossover as LUMBER price action is on a major downswing and IOTX price action is on the up swing. Looks like this scenario might be playing out right now? Will follow.... Good luck traders! by Ambassadorj1