hopscotch
Short

January Milk Elliot Wave

CME:DLF2018   MILK, CLASS III FUTURES
Jan Milk III             is nearing the Support 3 line and closing in on oversold RSI . Milk is very bearish right now. USDA put milk trading around 16.18 to 15. Well it went below that. The next USDA numbers on Milk is November 20, 2017 3:00 PM. Right now Milk is trading in a band and could be coming to a final three drives pattern.
Comment: Milk made bottom channel and rebounded. Upside target 15.37, and pivot at 15.58
Comment: Upside target for Friday pivot at 15.58
Comment: Milk trying to find a low. Produced a harami bull sign today. waiting for more confirmation. May try for more downside.
Comment: Milk is either setting up a bearish flag to drop further or poising itself for a run up to pivot at 15.58. First target would be S1 at 15.27
Comment: Milk Breaks through Channel and S3. No downside end in sight.
Comment: Milk is deciding where it wants to go. Nothing new to report.
Comment: Milk still doesn't know where to go. Making a lot of dojis. There could still be more downside.
Comment: Milk continues to break down. New pivots have been created. Next downside target is 14.16 at new S2

snapshot
Comment: Milk made a bullish move today on January and February. Jan using 14.07 as support. Feb 14.16. Might have an upward swing to pivot at 14.88. There was considerable buying at 14.35 for Feb.
Comment: Milk on hold
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