My present Veiw.Lumber A dry May didnt produce the level of sales that most were hoping for, especially for lumber mills. Any upward price fluctuations in the market downtrend were largely brought upon by lumber mills implementing curtailments and temporary closings, in an attempt to lessen lumber inventories. Although this calculated effort was intended to create a rally the market, it did little to instigate greater demand. Weak sales kept prices bumping along a flat line. Not to say that demand was weak at the retail level. Activity was good and outtake kept orders in the pipeline, but not to the extent that it pressured supply or bolstered prices for mills. There is plenty of work in the field but simply still not enough to significantly increase demand. Despite good weather conditions or supply regulating, sales will have to wait for more building. Typical practice amongst lumber buyers is to buy a little heavy in anticipation of business, However the current moderate outtake has afforded the ability to replenish lumber requirements without urgency at these lower prices. Normally spikes and rallies are seen when building business hits suddenly all at once, or when drastic restrictions or government infrastructure programs shoot out lead times. Unless something like these things happens, prices should not be expected to fluctuate much beyond todays levels. Mills typically close for a few weeks in the summer for retooling and maintenance. The timing also allows workers a short period with their family's for summer recreation. July is only one month away, Some production will be affected. With this in mind, I would expect prices to be Stabil for a few weeks and perhaps a slight upward move near the end of the month . But the upward move could find some resistance from the volume of lumber inventory still stockpiled. Considering the mills inventory combined with ongoing production it may be fall before a significant rally ensues. The $1.50 to 160's share price I suggested in a post Oct 17 2018 is now a reality. From here it is anybody's guess. Technically (if they are valid) from here horizontal price support gains strength should it further decline. An upward sloping support trendline in the Mid $1.40s. Watch for consolidation in price. structure