|ES Support and Resistance for November 7|
By Dennis Coleman NOV 07, 2012 8:10 AM
The E-mini S&P 500 Futures Contract (ES) opened a bit higher and then began moving up. It had been bumping against R1 in the pre-market. R1 finally yielded followed by a rapid move to R2. Since moves to R3 are rare, I didn't anticipate much of a move above R2. The ES moved essentially sideways through the middle of the day, just above R2. As we moved into the close, the ES returned to R2.
The range for the day was 14.25 points.
The levels for today are:
R3 = 1451.75
R2 = 1437.5
R1 = 1431.25
Pivot = 1423.25
S1 = 1417
S2 = 1409
S3 = 1394.75