Read his prediction here
I listened to one of his video recently and he mentioned about the co-relation between Lumber and the stock market. He said that Lumber price action is a good indicator of consumer wealth direction as that is what most average Joe will spend on the most - their home.
Currently, this commodity is facing some resistance at 71.4. I expect it to be broken up within the next few weeks and the price to continue charge higher. I will wait for the breakout, establish bullish signals before getting in.
I listened to one of his video recently and he mentioned about the co-relation between Lumber and the stock market. He said that Lumber price action is a good indicator of consumer wealth direction as that is what most average Joe will spend on the most - their home.
Currently, this commodity is facing some resistance at 71.4. I expect it to be broken up within the next few weeks and the price to continue charge higher. I will wait for the breakout, establish bullish signals before getting in.
Comment:
Thank you Michael
Comment:
I will be taking profits as there is a H&S pattern identified in the chart.
Comment:
expecting a correction as it hits the 468 level