business newsES Support and Resistance for December 6
By
Dennis Coleman Dec 06, 2012 8:06 am
Today's levels.
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The E-mini S&P 500 Futures Contract (ES) opened slightly higher and just above the pivot. It traded initially near the pivot before moving down to test S1. S1 yielded and the ES headed towards S2 getting to within three ticks before bouncing and moving back through S1. It easily got through the pivot and moved on to test R1. R1 yielded and the ES began heading higher. Before reaching R2, the ES began moving sideways. It continued to move sideways then broke through R1 and made it to the pivot as we headed to the close.
The range for the day was 18 points.
The levels for today are:
R3 = 1442.5
R2 = 1424.5
R1 = 1416.5
Pivot = 1406.5
S1 = 1398.5
S2 = 1388.5
S3 = 1370.5
No positions in stocks mentioned.
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