Put the flour, dry yeast, dry milk powder, sugar and salt into a large bowl and mix together to combine.
Add the water and olive oil to the dry ingredients and, using an electric mixer with the dough hook attached, (or kneading by hand) mix to form a rough dough. On low/medium speed (or by hand) knead the dough for about 10 minutes or until smooth and elastic.
Form the dough into a ball, put into a clean bowl, cover, and set aside until doubled in size-- around an hour. Alternatively, you can put the dough into a bowl, cover it and put it in the refrigerator overnight.
If you’ve chilled your dough overnight, take it out of the fridge and allow it to come to room temperature for about 15-20 minutes. Gently press on the dough to deflate it.
Divide the dough into 6 equal sized balls, then cover with a cloth to prevent them from drying out. Working with one ball of dough at a time, roll out into ropes of dough roughly 18"-19" long. Pinch the two ends together and gently roll briefly on the counter to make sure the ends are stuck together.
Preheat oven to 350° F.
Put the oval-shaped bagels onto two parchment lined baking sheets then lightly cover and set aside for an hour or so. They will have risen and be puffy to the touch but wont quite have doubled in size.