Milk bottomed out last week and looked today like it was going to explode up but was met with more selling. Still remains as a higher low. We might see some sideways trading to end of week. Next pattern could be a Bearish Gartely. October Milk is in the same condition.
Comment:
Milk may be trying to build out one more Bearish Flag before finding some upside. Hammer was created today. Tried to sell more but was bought back. Resistance is S2 and support is S3. Pivot is short term target for the upside.
Comment:
Milk still oversold and bearish. If turn around we may only see buy to 20 day moving average, which would put it around 16.07
Comment:
Milk double bottomed today. Still weak. May see push to S3 at 15.33
Comment:
Milk made a upward attempt today from a double bottom low. Might see some upside in the next couple of days. Target S2 at 15.75, the possibly S1 at 16.01. 15.50 becomes support
Comment:
Milk surged up today heading for S1 at 16.01 as 20 Day MA closes in. Watching for break of RSI trendline for further upside into next week, or fail back down to S2. There is a lot of overhead at 16.12 to overcome.
Comment:
Milk shot up and eclipsed pivot. Next upside target is 16.71 which was a base line of resistance from the dramatic fall weeks ago, then R1 at 16.85. Also watching for a doji pause. RSI downtrend was broken and is now getting overbought.
Comment:
Milk swung today. Watching for bullish flag. If no flag and continued fall, downside target 16.12 and then S1 at 16.01. 16.60 becomes resistance. If flag upside target 16.70. New pivots Friday and into next week. New pivot should come out about 16.12
Comment:
No flag today for Milk, but went down. Next downside target same as before 16.12
Comment:
Milk rose out of a hammer Tuesday. Next upside target is 16.43 pivot.
Comment:
Milk hit a roadblock today and made a doji.
Looking at this again there is a possible elliot wave forming for upside potential. Hope tomorrow will put more insight on its key direction.
Looking at this again there is a possible elliot wave forming for upside potential. Hope tomorrow will put more insight on its key direction.
Comment:
Dec milk didn't show much enthusiasm for an elliot wave. Fell back down to S1. Still more RSI to go. We may see another down side to S2 at 15.33
Comment:
Dec Milk appears to want to drop to double bottom at 15.54 and possibly 15.37 at newly created S2 not shown.
Comment:
December Milk made 15.50 on its way to the S2 and probably beyond. RSI still not oversold enough for turn around.
Trade closed manually
