From All Star Charts:
We're watching these corn futures very closely right here around 730. There's a lot going on in this space and I think the daily chart for $ZC_F breaks it down nicely.
The first thing we notice is this giant symmetrical triangle that formed off the July lows and August highs. Prices in December were approaching the apex of these two converging trendlines and broke down pretty hard.
The sell-off took prices below a rising 200 day moving average and down to last year's former resistance. This level turned into new-found support, and and corn was able to...
More on agriculture: