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Symmetrical Triangle Chart Pattern on Corn

March 7, 2010 at 12:21 by Vladimir Vyun

On the daily chart of a corn a symmetrical triangle pattern has formed.The downward breakout is probable as this pattern tend to break in the direction of the previous trend. But symmetrical triangle can break in any direction, so you can wait for a breakout to see where the price is going and minimize the risk. Anyway, in this case the pattern is weak and, wherever the price will be going, movement should not be strong. Click the image to enlarge it to a full-size screenshot:

If you have any questions or comments regarding this chart pattern for the corn, please, feel free to reply below.

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