Lumber’s decline accelerates
June 18, 2021 Leave a comment
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.
June 18, 2021
by Rob Zdravevski
rob@karriasset.com.au

Yes…..Lumber. (see chart below)
All have doubled over the past 4 months.
Where to next….
Oil’s bullish trend is still intact,
Silver is overbought, at extremes and warrants caution if you are long (susceptible to a pullback to $18),
and Lumber is a Sell. With its 3 standard deviation above its ‘weekly’ mean and an outside reversal week, it’s time to cash in the (wood) chips.
by Rob Zdravevski
July 27, 2020
rob@karriasset.com.au