truecodecapital

Lumber finding support at 200-week moving average

Long
CME:LBS1!   None
Lumber is finding support finally after losing nearly 70% of its value in eight weeks. A breakdown beneath the 200-week moving average could mean pain for the broader economy. The last times a long-term lumber trend stayed under the 200-week moving average was the 2006-2009 financial crisis period and the 2016 bear market for stocks.

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