Unofficial trade ideas are trade ideas that may or may not list specific stops & exact price targets and may or may not be followed up with. Unofficial trade ideas will only be moved to the Active and Completed Trade categories if they are first published as being recategorized as an official trade idea.
Lumber futures (/LB) look to be headed back down to the 540 & 531.50 levels in the coming days to weeks as indicated on this 60-minute chart below. LB 60-min April 23rd Looking at the bigger picture via this daily chart of WOOD (Timber & Forestry Index ETF), the timber & forestry sector appears poised for at least a 14% correction off last week's highs & a drop of as much as 22% in the coming weeks to months. I plan to zero in on some price targets for WOOD & will likely add it as an official trade [...]