| ESU9 For 07/27/2009 |
| Symbol | R1 | R2 | Pivot | S1 | S2 | |
| ESU9 | 983.67 | 989.58 | 973.08 | 967.17 | 956.58 | |
Stocks run into resistance (supply) because those traders that bought too late and saw the price go down now want to get out at break even so they sell. Stocks find support (demand) because those traders that missed the move up now have a second chance to get in so they buy.
Here, “S” represents the support levels, “R” the resistance levels and “P” the pivot point. High, low and close are represented by the “H”, “L” and “C” respectively. Note that the high, low and close in 24-hour markets(like the forex market)are often calculated using New York closing time (4pm EST) on a 24-hour cycle. Limited markets (like the NYSE and Nasdaz ) simply use the high, low and close from the day’s standard trading hours.