|ES Support and Resistance for December 20|
By Dennis Coleman DEC 20, 2012 8:30 AM
The E-mini S&P 500 Futures Contract (ES) opened above the previous close and between the pivot and R1. The markets had been moving lower in the pre-market and that downward move continued with the opening. The ES got to within two ticks of the pivot before turning around. As the day progressed, the ES worked higher, but didn't get close to R1 before it turned down to head towards the pivot again. In the early afternoon, it bounced off the pivot. On its next approach, the ES was able to get through the pivot, and then spent the rest of the day moving lower without reaching S1.
The range for the day was 13.25 points.
The levels for today are:
R3 = 1462.5
R2 = 1449.25
R1 = 1441.25
Pivot = 1436
S1 = 1428
S2 = 1422.75
S3 = 1409.5