March Milk looks to be setting up a bear bat to R1 at 14.95. Milk has been in a tail spin downward for a long while and don't see any reprieve just yet. Milk may go to R2 as this would produce a double top. Rise in prices have been due to good sales in Pizzerias for Super Bowl and now for NBA all star week today. Inventories still high for cheese so would expect chop to lower prices after this surge.
Comment:
Milk up sharply almost hit R1 for Bat. May end up higher than R1.
Comment:
Bat pattern completed, looking for final top and bear move.
Comment:
Milk falls off of bat. Pivot target for today 14.54