Lumber Prices May Run Higher if Bulls Defend the 2021 Low

Lumber prices are trading near their 2021 low as prices extend a multi-week losing streak. A break below 452.2 would likely induce further weakness, and the chart setup appears biased for more pain. However, if bulls defend that level, a Falling Wedge offers a potential breakout chance, but it would first require prices to rise to and break wedge resistance.