Earlier in the week, we saw Monsanto break below a triangle consolidation pattern. There are doubts surrounding the Bayer-Monsanto deal weighing on Monsanto which has been in consolidation mode since June.MON 4H Chart 9/23(click to enlarge)Breakout + Pullback:- The 4H chart shows a bearish breakout from triangle support as well as a cluster of 200-, 100-, and 50-period simple moving averages (SMAs).- After the breakout and falling to 102.00, MON rebounded. - So far, the rally has stalled as price tested the broken consolidation pattern. I think a long as price holds under 106, the bearish breakout is still valid.- In fact, if price finds resistance in this 105-106 area and falls, we have a bearish "slingshot" signal. This is when price crosses below the cluster of SMAs and then uses them as resistance. Bearish outlook:- The bearish outlook has the 99.30-100 area in sight. This is a previous support and psychological level,- The most aggressive bearish outlook for now should be limited to 96.00, a support/resistance pivot. At 96, MON would complete an ABC correction since June.