Milk Prices Higher For 7th Straight Session
Milk Futures--- Milk futures today continue their bullish momentum to the upside higher by another 30 points currently trading at 16.40 with a high in the intraday at 16.50 which is an eight week high in prices while just three weeks ago traders and dairy farmers were shaking their heads wondering how low prices are going and instead now they're wondering how high are prices going. The next major resistance is at 16.65-16.75 and if it crosses that major resistance that would create a four-month high and only an eyelash away from contract highs which is right at 17.50 which happened about five months ago. What a remarkable turnaround milk futures have had in the last three weeks that is why when you trade commodities you have to place stop losses because prices can turn very quickly to the up or turn down very quickly so remember always use a money management system and always use stop losses to try and minimize your risk. I still have a problem believing some of these prices in the milk futures at this time; however you have to go with the trend so I recommend sitting on the side-line and watching what develops. If you are looking for a futures broker feel free to contact Michael Seery at 800-615-7649 and he will be more than happy to help you with your trading.
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