Breaking down below 716 is definitely bearish. The long term pattern is a bearish Inverse Cup & Handle as well. And the 20ema has been below the 50ema since mid Oct. And the long term Modified MACD is very bearish and fell below the 0 line in mid Nov and after a feeble attempt back to the 0 line rolled over bearishly again. Notice price has remained in this channel since Sept which is 3 months now. Buy support and sell resistance is always the best trade within a channel like this. But this breakdown is important. But price is king and 1st and foremost. Price is breaking down if it closes below. The key factor now is avoiding a false breakdown. See lots of them nowadays where you get a one day wonder breakdown or breakout only to see price reverse back again. Some call it an isolated low on a breakdown or isolated high on a breakout. So like all breakouts and breakdowns you need proof to confirm. With a breakdown that would be a few days below the line and preferably see price bump up against the breakdown point and back off again which confirms that old support line is now in fact resistance. So one way to trade it is to take a partial short position on the break as odds favour a breakdown and follow through to the downside. And once it remains below the line for a few days add to the postion until you are fully invested. The stop loss level in case of a reversal is a close back above the breakdown point. That is the theory of it in any case and only safe and reasonable way to trade it unless you want to use options to hedge or protect your postion. But the key to getting and staying short is for price to remain below the breakdown point of 716. This breakdown is contrary to the seasonal trend which is bullish into March. Perhaps the short but dramatic run up from June to Aug took the steam out of Corn now and affected the seasonal trend. Who knows. But that bullish seasoanl trend from Dec to March may affect the strength and duration of the selloff as well. But an acceptable stop loss or hedge of some sort or trailing stop will solve the unknown price action ahead. That's all I see here fwiw..................