Technical analysis for 30th October 2025
FTSE100 Bias
- Neutral-to-Bullish (early consolidation, buy-on-dip tone)
- The broader structure still favours upside continuation, but after five consecutive green candles, a pause/pullback toward 9,690–9,650 would refresh momentum.
- Bulls likely to defend above S1 (9,694) and the 10-day EMA.
S&P500 Bias
- Mildly Bullish
- Expect upside momentum to continue, buy-on-dips is the preferred posture.
- Watch for resistance near channel top, as failure to clear this may lead to a pause or pull-back.
- If support breaks, the bias could shift to neutral or slightly bearish.
DAX40 Bias
- Neutral to Mildly Bullish
- Favoured strategy: buy supportive dips while the trend remains intact.
- Less confident in full-on breakout unless the index clears resistance convincingly.
- Keep risk control tight given external headline exposure.
Quite the drop on gold yesterday from our 4027 shorting level, as once again it proves to be one of the most volatile markets! The FTSE100 broke above the 9750 level and was targeting the 9800 before the US got involved - however it may well have another attempt today and a rise towards the 9796 - 9813 resistance zone this morning would fit the chart well. If we did get that area then a short here would make sense as we will likely see the bears appear, and a bit of profit taking too.
Yesterday's tech results saw Alphabet zoom up, while Meta and Microsoft sold off, which forced the S&P down to the 6850 level. Its since bounced back though hence thinking that a rise and dip may well play out across the board again today. Given the lacklustre performance from the bulls at 9750 yesterday, the bias remains strong for continued upside so do still remain slightly cautious with the shorting!
Initially we have a bearish 2h chart with Hull MA resistance at the 9765 level and the bulls will be looking to break above this initially. They will need a bit of strength though as we also have a red 30m coral at 9755 to get through as well. Basically there are a few key resistance levels in play to start with, any one of which may well be the stumbling block! I have gone for the short at the higher levels though as I do think the bulls will want to test 9800 soon. Santa Rally certainly playing out at the moment!
Support wise the 9694 S1 level is primed, with the 9680 level just below that where we have the key fib and the 200ema. I would like to see this area hold if it were to get tested as it keeps the momentum bullish then. If the bears were to break below the 9675 level then 9640 S2 is next up, though with the bottom of the 10d Raff channel at 9685 as well, I am more inclined to go with the higher support holding.
The big spanner in the works for the FTSE100 bulls will of course be the budget next month with taxpayers expected to get another hammering.
Similar picture for the S&P500 and the DAX40 really with a rise and dip looking likely. 6940 and 24305 respectively are the main resistance levels that I am looking at for them to get a reaction.
Good luck today.
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