LUMBER OVERVALUED: Speculators WILL LIKELY start taking profit.

31 May 2018

I really don't have much to say about this, it is a classic overvalued market. Speculators may look to take profits here, but momentum is so strong don't rule out a final push to $700. Expecting the first bear wave in 4 years, it can take us down to $550 or lower, even possibly $450. From there I'm assuming a bounce to retest highs and fail, or break above towards $800. The latter doesn't seem likely unless we are entering a new phase of global inflation which warrants investing cash into pretty much anything. Still, I would prefer an undervalued market, like silver or gold. Not something that is overheating.

Disclaimer: Not financial advice.