Since a gigantic break out from a falling wedge (dated back to 2005) in Nov 2009 and a strong support by extended upper wedge line, lumber price has engaged in this long term uptrend channel.
As can be seen, since topping out at 2013 at upper channel resistance, price has been consolidating in symmetrical triangle formation. In a couple of weeks, whether the uptrend channel support can hold the price will be one of the key to find out whether we will have Inflation ahead or Housing slump ahead.
As can be seen, since topping out at 2013 at upper channel resistance, price has been consolidating in symmetrical triangle formation. In a couple of weeks, whether the uptrend channel support can hold the price will be one of the key to find out whether we will have Inflation ahead or Housing slump ahead.