Average weekly trading range in 2022 as of after week 34: 113 points.
Each bar is derived from one week of trading activity (Monday through Friday).
After week 42, Lumber prices are creeping higher. Looking into the fall of last year, the big question is, if the current longer pattern is some sort of duplicate just coming into effect a few weeks later.
After week 34, Lumber is little changed since June. Let's see if markets lift like last year, confirmed from a a weekly higher low and higher high.
After week 24, Lumberprices are continuing lower represented by the lower highs and lower lows. Trading above 643 could pause or reverse the current downtrend.
After week 21, the Lumber market is still in the wild Red zone. Another lower low with a lower high on a weekly scale indicating continued weakness. Only trading found back above 785 could potentially reverse the current downtrend.
After week 16, there is an inside Red bar on a weekly scale. Chart readings are High 987 and Low 872. Seasonality is presently strong so let's see what the chart is doing next week.
After week 14, a 4th week of Red bars. There is a new Red weekly bar containing a lower low and a lower high. Weakness prevails for now.
After week 12, weakness prevails for Lumber prices as the weekly chart is showing a lower low and a lower high. "Only" trading above 1.230 could change the current view.
After week 11, there is a lower low and a lower high on the weekly scale indicating weakness.
After week 10, the highs are stalling and there is a lower low. 1.340 is about the high of the year and looks to be a resistance level which is stemming from middle of January. Be aware of sudden setbacks.
After week 09, there is a higher high and a higher low on a weekly scale, indicating continued strength. The week saw a 9% upswing. Activity below 1.180 could be vulnurable for lower prices to come.
After week 06, Lumber is making a higher high and a higher low, indicating higher prices to come.