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ES Support and Resistance for August 9


Today's levels.

Support and Resistance for Today

The E-mini S&P 500 Futures Contract (ES) opened lower than the previous close and between S2 and S1. It had been heading up just before the opening. Once again, the range for the previous day was very narrow so the levels were very close together. The ES spiked through S1 just after the open for the pit sessions. (Remember, the lines should be drawn with a paint brush and not a sharpened pencil.) The ES was able to push to the pivot and then traded in the area of the pivot. It moved down and then came back to test the pivot, spending most of the day at the pivot or a bit lower. It was another slow day, with the range during the pit session of 8.25 points.

The levels for today are:

R3 = 1413.25

R2 = 1405

R1 = 1401.75

Pivot = 1396.75

S1 = 1393.5

S2 = 1388.5

S3 = 1380.25

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