|
PureBytes Links
Trading Reference Links
|
Hi RTs,
For those who follow the seasonal, there is a seasonal tendency for the
Jan. Lumber to move up between 10/28-11/17.
For the past 21 Years, the seasonals have been correct 19 times! I also
have the following data:
1) Weekly trend is down, but rising,
2) Daily trend is down,
3) 14-day ADX is at 22,
4) Daily trend in open interest is down, but up for the volume.
On Friday, LB closed at 322.50. I have the support level at 316.50, and
resistance at 332
Overall, this market looks very bearish. To position trade this market
on the long side, both weekly and daily trend must confirm its seasonal
tendency.
This market is worth monitoring!
Happy trading,
Frank
|