Lumber futures rallying and testing three-month highs
- BySeeking Alpha-
After a huge reopening rally and a plunge back down to pre-pandemic levels, lumber is building upward momentum again.
After a huge reopening rally and a plunge back down to pre-pandemic levels, lumber is building upward momentum again.
Lumber prices are rising again, with futures up almost 40% since late August, in a sign of how some of this year’s surge in the price of raw materials is lingering.
Lumber has been particularly volatile in the past three months, but demand and prices for the commodity are poised for a long-term climb as the market settles into its “new...
This article was written exclusively for Investing.com.A wild ride in wood futures in 2021Never trade or invest in lumber futures, but watch them like a hawkLumber found a...
While it is tempting to conclude that futures are good predictors of future spot rates, the data may say otherwise. Let's take a look.
Type | 5 Min | 15 Min | Hourly | Daily | Monthly |
|---|---|---|---|---|---|
| Moving Averages | Strong Sell | Strong Sell | Strong Sell | Strong Sell | Buy |
| Technical Indicators | Strong Sell | Strong Sell | Strong Sell | Strong Sell | Sell |
| Summary | Strong Sell | Strong Sell | Strong Sell | Strong Sell | Neutral |