Lumber drops through support, tests it and fails
I suppose it is the very picture of pent up economic reopening demand followed by the inevitable slack in that rope. One valid question is what other items did similar things but have not hit their slack periods?
That was clear lateral support at 815 and Lumber took it out, turned it to resistance, bounced to test the breakdown and has come to another support zone around 640. If this is taken out Lumber is on its way to more support at 468. All of this destruction from a hysterical high of 1733. So again, is Lumber a guide for any other policy-distorted bubbles out there?
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