In August, the lumber futures price did not fall below the August 2021 $448 low. On September 1, the price of nearby futures was above that price, but the trend remained lower. The current environment favors a consolidation period, and time will tell if lumber continues to hold above its critical technical resistance level. November futures fail at over $600 After falling below the $500 per 1,000 board feet level in August, lumber futures recovered but could only manage another lower high. The ...
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