|ES Support and Resistance for December 18|
By Dennis Coleman DEC 18, 2012 8:05 AM
The E-mini S&P 500 Futures Contract (ES) opened higher than Friday's close and in the area of R1. It quickly rose to R2. The levels were close together so the possibility of the ES moving well above R2 was very real. After moving sideways for about 90 minutes, the ES finally began moving above R2. It halted its rise before reaching R3 and began a return to R2, where it halted its pullback before mounting another attempt at R3, where it was successful going into the close.
The range for the day was 16.5 points.
The levels for today are:
R3 = 1455.25
R2 = 1438.75
R1 = 1432.75
Pivot = 1422.25
S1 = 1416.25
S2 = 1405.75
S3 = 1389.25