Short

December Milk Head and Shoulders

Updated

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.

Note

Dec Milk moving in on neckline. November contract has already crossed.

Note

We have a bear flag developing on Dec Milk

snapshot

Note

Milk leaving bear flag for a fall. November contract has already moved further down. Expect drop to S2 15.77

Note

Milk has fallen below neckline. Target S2 at 15.77

Trade closed: target reached

Milk hit target today, just above R3

Note

Looks like Milk is headed for a double bottom near 15.40

Note

may even acquire 15.30

Note

Milk collapses even further beyond the double bottom at 15.30. Now at 14.84

Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.