Milk fell from a Bat two weeks ago and looking like it may topple more. Has broke the RSI trend and the 20 day MA. S1 at 16.11 next target for bears. Uptrend must be broken before this can take place. Suggesting a bull Bat next pattern. If milk pushes off the uptrend then we might see a triple top and upside to R3 at 17.28.
Milk looking like it may make a run to R2 at 16.24. Right now caught in channel. Waiting for confirmation out of channel and move to R1 at 15.96. Bear Gartley would be the pattern. Market rising above the 20 day MA which is a good sign. Lots of potential RSI to run.
August Milk tanked today forcing RSI right down to near bottom. S3 target now for Milk at 16.03. Milk stayed below S2 in trading today suggesting continued selling. We may see some horizontal trading a bottom.
Milk had a steady climb through April and May. Now retracing. Fell out of the channel today on a gap down, and expect fall to S1 at least, at 16.44. May attempt S2 at 16.29. It has breached the 20 day MA and has stayed below. Pivot at 16.70 becomes resistance. July contract fell last week and is ahead of August.
Can a bounce on the 20ma keep bull hopes alive? Bearish divergence and 0.382 rejection, kumo and 100ma resistance just overhead, perhaps the 55ma is in the future Short term short
March Milk has been sliding for over two months. It is looking like it will fall again through newly formed S1. Downside target S2 at 13.23. End may come at S3.
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.
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.
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 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.
October Milk surging upwards and coming near oversold mark and double top creating what could be an end of a Shark pattern. We are now into August and Milk will start picking up steam for the school year. Upside target around 17.66 -17.74. Tops for this market was back in Feb 2 at 17.85 where it hit a roof.
September Milk consolidated for a few days and now is looking like it may start to rise. Initial projection is a bearish Gartley. Next upside target is the 20 day moving average around 16.83. Milk is still looking bearish, but require confirmation on the 20 day.
BUY MILK WITH TARGET EXTENSIONS FROM LAST SWING. MILK MARKET HAS BEEN DEPRESSED LAST TWO YEARS . IN EUROPE WE HAVE BOUNCE BACK IN THE LAST 3 QUARTERS, MAINLY BECAUSE MOST FARMERS GAVE UP THEIR MILK PRODUCTION WHICH LEAD TO SUPPLY SHORTEGES. THE SAME SENTIMENT IS SEEN IN NEW ZEALAND. LOOK AT NZD CURRENCY CROSSES TO ALL MAJORS IN RESENT MONTHS. IT SHOULD ELEVATE...
August Milk is making a play for 16.36 creating a bullish Shark. Needs to break and stay under 16.68. RSI is trending downwards.
June Milk made a double bottom today and is showing a possible reversal. Caution should be warranted as this market may not have ended its downside yet. If it goes up, first target would be 15.94
June Milk fell into a Butterfly/Cypher extension Thursday and then rose today. Market not finished with the downtrend. Possible sideways progress from here until proof of direction is determined. Right now we might have a bearish flag. Again confirmation needed for Monday. This market could extend down into 14.91. Double bottom extending back into 2016-03-18...
June Milk continues upward today bouncing off of Bearish Cypher C position yesterday. Looking for next upward target at 16.4 area. Potential upward target is the gap at 16.67