business newsES Support and Resistance for September 20
By
Dennis Coleman Sep 20, 2012 8:05 am
Today's levels.
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The E-mini S&P 500 Futures Contract (ES) opened above the previous close and between the pivot and R1. It quickly moved down to the pivot before spiking up to R1. Remember that the range for Tuesday was only 5.75 points so the levels were quite close together. By mid-morning, the ES had broken through R1 and approached R2. R2 proved to be effective as the ES headed lower, right through R1, to end the day basically unchanged from the previous day's close. Although the range on Wednesday was larger than on Tuesday, it was still narrow at 7.75 points.
The levels for today are:
R3 = 1470
R2 = 1462.25
R1 = 1457.75
Pivot = 1454.5
S1 = 1450
S2 = 1446.75
S3 = 1439
No positions in stocks mentioned.
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