From the fall of 2015, the demand for Lumber skyrocketed driving prices from $213 to almost $650 by mid-2018 where it peaked. The second half of 2018 was a very different story as demand eased creating a glut in the market which resulted in weak commodity prices which ultimately led to a steep decline back to $300 by October, previously seen in November 2016. Throughout the summer of 2019, lumber managed to hold above its 200 period daily moving average initiating an uptrend only to be devastated by the COVID pandemic in March of this year where prices bottomed out at $257.

Since April of this year, lumber has put in a strong performance, creating higher highs and higher lows each month, surpassing the February and March highs before the decline. Next hurdle is twin resistance at (1). What happens here could determine the future direction for lumber prices for the short to medium term. Short term sentiment amongst small participants is approx 74% bearish at the time of writing.

Bottomcatcher has made every attempt to ensure the accuracy and reliability of the information provided in this report. However, the information is provided without a warranty of any kind. Views expressed in this report may be subject to change without prior notice and may differ or be contrary to opinions expressed by Bottomcatcher.

Analysis feed

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Analysis


Latest Forex Analysis

Editors’ Picks

EUR/USD struggles below 1.1750 as ISM Manufacturing PMI beats

EUR/USD is trading below 1.1750, down amid US dollar strength. The ISM Manufacturing PMI beat with 54.2 points, yet the employment component missed with 44.3, a warning sign ahead of the NFP. Fiscal stimulus figures are awaited.

EUR/USD News

GBP/USD falls toward 1.30 amid a greenback comeback, UK concerns

GBP/USD has kicked off the week on the back foot, trading close to 1.30. Concerns about a lockdown in London, uncertainty about US-UK trade talks are weighing on the pound. The US dollar is gaining ground.

GBP/USD News

Gold: Interesting Fibonacci extension projects a move to $2500

Gold has risen 10.74% in the month of July, the biggest monthly increase since February 2016. As the price is breaking all-time highs it's hard to say where the yellow metal could end up.

Gold News

ETH/BTC skyrocketing, Bitcoin stays above $11,000

The cryptocurrency market is influenced by leveraged positions liquidation. Cryptocurrency experts expect further growth amid a global flight to safety assets. ETH/BTC hits the highest level since May 2019.

Read more

WTI drops below $40 on demand worries, OPEC+ output increase

Crude oil prices posted losses last week and seem to be struggling to shake off the bearish pressure on Monday. As of writing, the barrel of West Texas Intermediate (WTI) was trading at $39.85, losing 1.5% on a daily basis.

Oil News

Forex Majors

Cryptocurrencies

Signatures