Corn : Breaking Neckline

• Weekly chart of Mar12 Corn.
• SHS top evident. Unsure where to pitch the neckline. If aggressive, I usually choose the lowest level of where the candlestick bodies are bunched up (so around 606 here). If conservative, then the lowest of the candlestick tails (= 586 here).
• Conservative case being made here, now at 577 < 586 NL.
• Top = 790, NL = 586 (or 606), Target = 382 (or 422).
• Holding core short from 662 on 10Nov11 and trading around it.