Lumber’s decline accelerates

The price of Lumber has fallen 24% in the past 4 days, when I last mentioned its action in a topic relating to its moving averages.

Incidentally, last night decline now sees Lumber trading simultaneously at both its 50 Week Moving Average and its 200 Day Moving Average.

It is now the same price as seen in August 2000 and most recently as January 2021.

Its price has now sunk 52% in the past 5 weeks.

#meanreversion

June 18, 2021
by Rob Zdravevski
rob@karriasset.com.au

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