Good pullback on corn

The Fibonacci Retracements that have the highest probability of acting as support or resistance are the 61.8% and the 76.4%. On the 4 hour chart of corn we can see that the commodity has fallen from the 373.24 to the 346.76 to start retracing to the upside. Today the price of corn breaks above the 50% Fibo and it may try to visit the 61.8% Fibo, around the 363.11. On the 363.11 level we also have the 200 period exponential moving average, which makes the zone an even more important resistance level. Above that level, the 76.4% Fibo may also act as resistance. To the downside, the 23.6% Fibo may act as support.