December Milk is building out an interesting uptrend. Next downside target 16.67. There is a massive support line at 16.70 which should help in keeping milk up, but there is always a potential this could all fall apart.
Comment:
Milk hit 16.67 and rebounded. Almost hit pivot. Good chance it will exceed pivot, but for sake of a number next upside target pivot at 16.96, then possibly 17.08 last R1. Triple top potential.
Comment:
Milk surpassed pivot. Upside target to R1 at 17.14. If fail downside to uptrend line at S1 16.78
Comment:
Milk coming down to C position at support 16.70. Turn around to D could be at S2 16.67.
Comment:
Milk still using 16.70 as support. See if it continues t hold Monday
Trade closed manually:
Milk fell further than expected. Revamping pattern