Lumber futures have a monthly RSI above 70. This is only the 5th time that this has happened in the last 34 years. Although prices can still further increase in the short term, longer term some type of consolidation is due.
Increased demand from perpetual fiat debasement and free money, constricted supply from cargo ships blocking supply routes, Covid lockdowns. This is a recipe for disaster. Inflation is coming folks!
At around 489 price level in Nov last year , I made a trade call to go long on this futures. Those who followed me would have made a 2 fold returns on this futures in 6 weeks or less time.
Congratulations on that ! Now that it has dropped more than 30% from the peak at 900, I believe a 2nd rally is imminent. But whether it can break out of 900 price level as...
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...
Dates in the future with the greatest probability for a price high or price low.
The Djinn Predictive Indicators are simple mathematical equations. Once an equation is given to Siri the algorithm provides the future price swing date. Djinn Indicators work on all charts, for any asset category and in all time frames. Occasionally a Djinn Predictive Indicator will...
