Lumber - is a new ATH on the cards ?
Momentum to the upside is strong ( near 70 level and 30 day > 50 day) . The bias continues to the upside ( all short term daily averages aligned up) .
The All Time High price looms above at 648 . I am wondering if this soft commodity can do what the precious metal has done and break the ATH .
If so , a long can be justified.
1. Enter - around low $ 601
2. Target - 745 ( who knows )
3. Stop - 530 ( 3 atr)
4. RR = 2