June Milk is forming a bearish Bat. C leg completed. If Milk drops below 15.94 this will turn into a Cypher. Monday should setup what we have here. There is a gap left open from the fall that needs closing, and almost made in on Thursday. The previous setup was a Crab that could finalize itself as far a 14.92. We will know more on Monday.
April Milk just created a bearish flag after a long drop off. 15.58 area would be a target for Monday. This would produce a double bottom. 15 would be a target for a bullish Butterfly. Bat comes in a 15.8 where the market comes now.
June Milk found a bottom and bounced off. Couldn't quite make a 38.2 retracement. Bearish Gartley now the plan. Might crack 15.88 and go lower, double bottom and trend back up. To soon to tell. Tomorrow might show something better and into next week.
April Milk fell to the bullish Gartley, and pulled back by half. Will probably see continued lower days before an up playing around the 16.88 to 16.50
April Milk is still in a wedge downtrend/congestion. Friday may have created an evening start reversal signal. Need confirmation Monday. We also may be headed sideways on this market. Looking for a Bullish Gartley. Support at 17.04
April Class III Milk tried to move higher today, but was traded back. Looking for Gartley to complete at 61.8%.
April Milk fell from a sideways channel today and continues a downward projection to complete the Gartley. See more downside to 17.36, with full target to a double bottom at 17, 38.2% of the XA leg before moving up.
March Milk still trading within the bullish flag. A symmetrical triangle within the flag is also forming. The downtrend off of the high at A is preventing a climb further. Will take a little mustard to breach. This Gartley pattern could be extended up to a max of 78.6%. If Milk climbs further this pattern will turn Cypher. Also note that open interest is falling....
Class III MIlk moved higher today. Still within a Gartley pattern. A downtrending wedge may be forming here unless milk can move higher and into a Butterfly pattern. The pull back today is suggests a small pull back to 17.21 or lower. Next target for bulls is 17.80
March Milk Class III found buyers today and rose from an internal bullish Gartley now produced from the high. Look for higher prices. Next target for the bulls is 17.46 would the 88.6 retracement. It could be that MIlk is trying to create a double top or butterfly. Milk has also entered back into the 1/1 Gann fan which strengthens this market. It may also cross...
March Class III Milk is creating a bearish flag to fullfil a Bullish Gartley setup. A downward wedge began this possible pattern. Prices may fall to 15.95 if bears have the willingness to do so. Happy trading.
Class III Milk found more upside on Butterfly pattern. Weekly chart shows a little more upside than daily chart to 17.5. Overbought scenario may indicate a drop soon.
Still short this market. Looking for a retest of Mar Lows
Obviously you will have to select which targets you feel comfortable with on your own. One thing to keep in mind is target 2 may never get hit, unlike target 1 where there is a clear exit plan. One way to execute that exit is If target 2 (previous peak in price) does not get hit, keep rolling the futures contract until it does or until stop for entry 2 is...
momentum is building to the downside for a break below current lows. I expect this market to crush through this week and make new lows. As always, tight stops when market moves into profits lock it in. Low risk high reward