Lumber Selloff Halted Near 700 level, Will it Hold?

Lumber prices appeared to find a level of support at the psychologically imposing 700 handle, and MACD looks to be turning higher. However, the 20-day Simple Moving Average (SMA) is on track to complete a bearish crossover below its 200-day SMA. Is the six-week selloff coming to an end? The next big level of support lies near the 600 level, which underpinned prices on a swing lower earlier this year.