|ES Support and Resistance for December 4|
By Dennis Coleman DEC 04, 2012 8:06 AM
The E-mini S&P 500 Futures Contract (ES) opened higher than the previous close and in the area of R2. As would be anticipated, the ES pulled back from there only pausing briefly at R1 before going to the pivot. Once at the pivot, the ES began moving sideways. After a couple of hours, the ES continued its downward move, getting to S1 rather rapidly. It traded in that area for about 90 minutes before heading down to S2, where it bounced (getting to within one tick of S2) and recovered. S1 held as the ES fell into the close.
The range for the day was 16.25 points.
The levels for today are:
R3 = 1444.5
R2 = 1428.25
R1 = 1417.75
Pivot = 1412
S1 = 1401.5
S2 = 1395.75
S3 = 1379.5