Lumber may have found a top and could be creating a head and shoulders. R2 has been achieved. Neckline comes in at pivot 468.7 for March. RSI at the moment is falling. Expect Monday to be a down day, but followed the rest of the week to build out right shoulder. A break above R2 would signal no H&S and continued uptrend to R3 at 515.5
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Lower highs suggest lower lows. H&S still intact. 475.7 is volatility resistance. No break on 20 day MA.
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Lumber maybe taking a run at R3. H&S barely in play.
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Lumber found R3 and rejecting lows. Not sure if we will see 530 yet.
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There's no stopping lumber. Made 530. 540 next target.
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Lumber turned around slightly. We'll give it to possible drop at R2 497.6
Trade fechado manualmente:
New pivots
