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Sunday, 29 December 2019
Technicals of Lumber for Trading: 29 December 2019, Sunday
Technicals of Lumber for Trading:
29 December 2019, Sunday (Click on the Technical Chart Above to Expand)
Attached is the Technicals for Lumber. Lumber is a buy/long now whether for trading or investing for the short-mid term. Australia is burning, and the forest fires are at a critical emergency state now. Huge amount of forests have been burnt in South East Asia, Brazil, US and Australia this year. The market has not fully digested the extent of the damage yet, and with global warming, it will not get any better. The best hedge for many countries' governments is to go into lumber market and buy up lumber ETFs, lumber contracts and lumber derivatives now, so that future expensive wood resources can be subsidized more cheaply by the current hedges of intensive buys. Expect lumber prices to shoot up. The technical chart, with the illustrated tangents, support my point.
The Donovan Norfolk Technical Rating: Bullish
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