The chart is pretty clear, if we look at the previous wedges
we see that they finished with an intense breakout. A wedge
has been on its way for nearly 3 years and the current phase in yellow rectangle
is similar to the 2010 price action: touch of upper trend then a decay with resistance in the middle of the wedge
before the breakout.
Note the long term supportive area under 430.
Will it happen again or not? Of course I don't know, and to be honest the fundamentals are not really pointing towards a bullish
price with higher crops, pressure on prices and increasing stocks.