Whenever I open up a chart of any asset I like to look at the big picture first pulling up the oldest chart I can find. With Lumber chart I could instantly recognise a pattern called diagonal. I labelled it a Supercyclic wave as it has taken nearly 48 years to complete. After the competition of this pattern usually you can expect a bear market as a correction....
My opinion on this trade is a long position
This is a very significant buy opportunity. Please share and lets get these pips.
Change in trend? Well as prices have surpasses our prior resistance zone at 1328.00 , I believe that a lucrative trade is on the table. We could be able to long on this up to highs of 1344.00 and also 1352.00 . TP:1344.00/1352.00