|ES Support and Resistance for November 13|
By Dennis Coleman NOV 13, 2012 8:12 AM
The E-mini S&P 500 Futures Contract (ES) opened higher and just above the pivot. It had been moving mostly sideways but moved down to the pivot soon after the opening. On its second touch of the pivot, the ES was able to move below the pivot and begin heading lower. However, it didn't get too much lower before the ES turned back up to test the pivot from below. The pivot yielded very quickly as the ES began heading higher, making new highs for the day, where it paused its rise. As the afternoon progressed, the ES again moved down to test the pivot, which provided effective support through the remainder of the trading session. It was an inside day.
The range for the day was 8.75 points.
The levels for today are:
R3 = 1395.25
R2 = 1386.5
R1 = 1382.25
Pivot = 1377.75
S1 = 1373.5
S2 = 1369
S3 = 1360.25