Lumber putting in a bottom ? Asc Tri breakout in a channel Bullish case, 30% move up to back to prior KLOR
most likely keeps running for years from here.
Upside breakout of Asc Tri
They made it hard to trade this one, so as time runs more likely to work with buying pressure
Non advisory bread and butter trade.
Will Lumber Futures Shore Up the Stock Market Rally?Traders: Track a September contract breakout above 494.5. A decisive close above that level sets a rough target of 600 (shelf of former highs from last year).
I’ll pass since I don’t trade lumber. (I like the bullish divergence forming on the 14-day RSI, though.)
Whether you trade the futures cont
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
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
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Displays a symbol's price movements over previous years to identify recurring trends.