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ES Support and Resistance for August 21


Today's levels.


The E-mini S&P 500 Futures Contract (ES) opened below Friday's close and between the pivot and S1. One should note that because of the small range, we once again had levels which were close together. The ES had been toying with R1 very early in the morning, moved down to the pivot for the pre-market and was trading between the pivot and S1 just before the open. S1 did not provide much support as the ES spiked through it, working its way down to S2. As it does most of the time, S2 proved to be effective support. The ES bounced and moved back toward S1. It traded for about an hour before it was able to move higher and approach the pivot. The pivot held and the ES moved back to S1. S1 held. On its return to the pivot, the ES found this to be an effective boundary also. We had another narrow range, being only 6.75 points.

The levels for today are:

R3 = 1427

R2 = 1420.25

R1 = 1417.5

Pivot = 1413.5

S1 = 1410.75

S2 = 1406.75

S3 = 1400

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