I Remain Bullish Milk Prices

Milk Futures---Milk futures in the May contract settled last Friday in Chicago at 14.23 while currently trading at 14.17 down about 6 points for the trading week as I have been recommending a bullish position from the 14.25 level and if you took the trade continue to place the stop loss under the contract low which was hit on January 9th at 13.92 as the risk is around $660 per contract plus slippage and commission.

Several of my clients have taken the trade in the April contract which does more volume as that is fine just make sure you place the stop loss under the contract low which was also hit on the same date as an exit strategy.

Milk prices are trading under their 20 and 100 day moving average slightly as we have held major support around the 14.00 level over the last 2 months as the risk/reward are in your favor as the rest of the agricultural sector are starting to rally as I think milk will join the party as these prices are unbelievably cheap in my opinion.

The chart structure at the current time is outstanding as the volatility remains very low as milk prices can have huge price swings with huge volatility so take a shot to the upside & let's see what next week's trade brings as the risk/reward are in your favor in my opinion.




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