Technical analysis for 9th June 2026
Asian stock markets eked out a rally on Tuesday and oil prices came off highs after Israel and Iran said they would halt attacks on each other for now, while ever-hopeful investors bought the latest dip in semiconductor stocks.
The overall picture has shifted slightly compared with last week:
- US indices are attempting a recovery but remain below key channel resistance.
- FTSE is improving and looks more constructive than the DAX.
- DAX remains the weakest equity index.
- Gold remains in a downtrend despite the bounce.
FTSE 100
- Bias: Neutral to Bullish
- Still inside the descending channel.
- Price has reclaimed EMA25.
- Trading above pivot.
- Relative strength improving versus DAX.
- Key Levels
- Resistance: 10,400 → 10,408 → 10,472
- Support: 10,346 → 10,282
- Trading Plan
- Prefer buying dips while above 10,340.
- Break above 10,400 would be a meaningful bullish signal.
- Target: 10,400 then 10,472
DAX 40
- Bias: Bearish to Neutral
- Price remains below the falling channel midpoint.
- Trading below EMA25 (24,751).
- Below R1 (24,769).
- Recent candles show only a weak rebound after the sharp selloff.
- Key Levels
- Resistance: 24,751 → 24,769 → 24,963
- Support: 24,355 → 24,236 → 24,135
- Trading Plan
- Below 24,750 I favour selling rallies.
- Bulls need a daily close above 24,770 to trigger a larger squeeze.
- Target: 24,355 then 24,236
Nasdaq 100
- Bias: Bullish Recovery
- Strong recovery candle after the large selloff.
- Holding above EMA25.
- Price sitting just above the pivot.
- Trend structure remains broadly bullish despite the pullback.
- Key Levels
- Resistance: 29,849 → 30,160 → 30,620
- Support: 29,389 → 29,078
- Trading Plan
- Buy dips while above 29,400.
- A break above 29,850 would likely accelerate toward 30,160.
- Target: 29,850 then 30,160
S&P 500
- Bias: Bullish Recovery
- Holding above EMA25.
- Strong rejection from lower channel support.
- Buyers defended 7,350 area aggressively.
- Trading above pivot.
- Key Levels
- Resistance: 7,465 → 7,510 → 7,555
- Support: 7,419 → 7,375
- Trading Plan
- Long above 7,420.
- Stronger confirmation above 7,465.
- Target: 7,510 then 7,555
Gold
- Bias: Bearish
- Downtrend channel remains intact.
- EMA25 and EMA200 both above price.
- Current move is only a bounce into resistance.
- Structure remains lower highs and lower lows.
- Key Levels
- Resistance: 4,365 → 4,402 → 4,449
- Support: 4,280 → 4,232 → 4,195
- Trading Plan
- Sell rallies toward 4,365–4,400.
- Trend remains bearish until a break above 4,450.
- Target: 4,280 then 4,232
Overall Market Theme
- Bullish: Nasdaq, S&P, FTSE (slightly)
- Bearish: DAX, Gold
For today's session, the highest-probability directional trades from these daily charts are:
- Long Nasdaq
- Long S&P 500
- Short Gold
- Short DAX on rallies
The relative-strength trade remains Long Nasdaq / Short DAX, which is still the cleanest index spread visible on the daily timeframe.
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