Both October and December Milk is coming or has come to a double or triple bottom and oversold condition. Rebound or continued downward action? A bullish butterfly could be the setup.
December
December
Comment:
October Milk on one contract is showing upside surge, and December a bearish flag to 16.12 double bottom. Either way Milk needs to shed some contracts to sell off further.
Comment:
December Milk is nearing it's target at 15.8, while October isn't doing as well, but still moving down. Suspect end is near for a rebound. RSI oversold and could do a little more.
Comment:
Both Milks produced a bearish flag today. So close to target for December, however Milk running out of steam.
Comment:
Both Milks fell off flags today but went to Doji. Possible turn around in the next couple of days.
Comment:
Milk continued falling off of bearish flag. December hit potential target. Milk still have some more downside here. December next target is newly formed S2 at 15.75. Will have to wait to see if it rebounds from oversold condition. Again rare instances if it goes to S3 and beyond.
Comment:
Comment:
Milk continues to fall and October is now closing in on the target of 15.74. December moving into extension of Butterfly.
Comment:
Milk fell once more. Heading for S3.
Comment:
Milk took off upwards off of a double tweezer bottom and held pretty solid. Next upside for the bulls is 16.40 previous double bottom resistance from April 11
Trade closed: target reached
