Dec Milk creating a H&S. Fell today laying out last shoulder. S1 15.93 target for bears. Breaching this and staying under would put Milk target at S2 15.77 and shoulder height coming around S3 15.60 to 15.51. Milk is also under the 20 day MA supporting this outlook.
Comment:
Dec Milk moving in on neckline. November contract has already crossed.
Comment:
We have a bear flag developing on Dec Milk
Comment:
Milk leaving bear flag for a fall. November contract has already moved further down. Expect drop to S2 15.77
Comment:
Milk has fallen below neckline. Target S2 at 15.77
Trade closed: target reached:
Milk hit target today, just above R3
Comment:
Looks like Milk is headed for a double bottom near 15.40
Comment:
may even acquire 15.30
Comment:
Milk collapses even further beyond the double bottom at 15.30. Now at 14.84