/LB lumber is approaching the first price target while rallying impulsively today (+5%) following last week’s divergent low & Friday’s breakout. While the odds for a reaction on the initial tag of T1 are decent, I wouldn’t be surprised to see lumber shoot right on through that resistance level & currently favor a move up to at least T2 & quite likely T3 in the coming days/weeks. 30-minute chart below.
LB 30m July 6th