Lumber posted a strong rally today (12/15) seeing its highest prices since May.This move higher gives me a buy signal for January lumber on the daily chart. Lumber also gave me a buy signal on the weekly chart last week. The trend is up on the monthly chart.
Jim Lopez, CEO of Canadian lumber company Tembec Inc. recently told Bloomberg, "Our lumber business in China: it's booming right now. It's a shot in the arm for an industry that was so dependent on the U.S."
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