|ES Support and Resistance for November 14|
By Dennis Coleman NOV 14, 2012 8:07 AM
The E-mini S&P 500 Futures Contract (ES) opened lower than the previous day's close and near S2. The first reaction was a move up. The ES quickly moved to S1, which offered little resistance. After returning to test S1 from above, the ES moved up to the pivot, where it traded briefly before testing R1. R1 yielded and the ES continued up to R2. R2 provided effective resistance. The ES moved back to the area of R1, where it traded for most of the afternoon before moving down and bouncing off the pivot initially. As we moved into the final hour, the pivot yielded. We ended the day between S2 and S1.
The range for the day was 19.25 points.
The levels for today are:
R3 = 1413.25
R2 = 1394
R1 = 1382.5
Pivot = 1374.75
S1 = 1363.25
S2 = 1355.5
S3 = 1336.25