Lumber looks to be testing the 328-330 level in a flat formation for wave 2,and a test of this level is definitely possible.( per nov contract) this looks to be a triangle of some sort for a wave 4 wedge or triangle of a completed 1-2-3 down and almost completed w4 with the 5th down to come.
Longer term- the picture looks bullish and a wave 2 zig zag looks to have completed and a push back to the highs sets up the w3 higher. 320-330 should protect the downside as a w4 triangle looks to be playing out on the weekly chart with the 5th higher to come.
Good trading
CK
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