Technical analysis for 7th November 2025
FTSE100 Bias
- FTSE 100 current price: ≈ 9,720 (-0.03%)
- Daily bias: Neutral to slightly bullish within the broader uptrend channel
- Short-term structure (30 min chart): Mild consolidation under the 200 EMA following Thursday’s recovery push.
FTSE 100 remains within a medium-term uptrend, consolidating below 9,750. Watch for a breakout above 9,750 to confirm bullish continuation toward 9,820. If that fails and price slips under 9,690, expect a retrace to 9,660. Today’s bias is cautiously bullish, favoring dip buys above 9,690 unless a decisive breakdown occurs.
S&P500 Bias
- Bias: Moderately Bullish
- Overview:
- The S&P 500 remains in a long-term uptrend; major moving averages show bullish alignment. That said, analysts note momentum is moderating and the market is somewhat extended, implying upside from here may be limited in the short term.
- Interpretation & Trade Focus:
- Primary posture: buy‐on‐dips rather than aggressive breakout chasing.
- Key support zones merit focus; a break below those could shift the bias more neutral.
- Upside remains valid, but expect a more measured move rather than explosive jump.
DAX40 Bias
- Bias: Neutral to Mildly Bullish
- Overview:
- The DAX demonstrates a strong bullish trend on multiple time-frames.
- But near-term upside may be constrained by resistance and less dynamic momentum.
- Interpretation & Trade Focus:
- Favoured strategy: buy corrective dips while structure remains intact.
- A breakout above resistance would enhance bullish view; failure to hold support would warrant caution.
- Risk-reward suggests more value on the support side than chasing highs.
The bulls defended the test of 9700 yesterday and will be looking to head into the weekend with some bullish momentum. Initial resistance is at the daily pivot and red 30m coral at 9730, with the 9750 looking key above this. 9771 is then R1. Initially today we may well see consolidation below the 9750 so look for a short off this. If we break above then the bulls may well be aiming for 9800, and potentially a test of the higher daily resistance at 9833.
The backdrop rhetoric is all about the potential AI "bubble" popping but is it actually a bubble or just got a bit over extended? It's a good sign for the FTSE100 that is has defended the 9700 level for more Q4 upside. The BoE holding rates failed to dent the bulls confidence too yesterday.
However, the bears will be looking to break 9700 as that would likely lead to the 9650 S2 level and 9667 key fib. With yesterday's drop off 9780 the 2h chart has gone bearish again and has Hull MA resistance to start with at 9730 - with the pivot also here then we may see this hold as resistance if the bulls can't get it to 9750.
S&P500
Normally we would have NFP news out today but given the shut down in the US that has been delayed. In the news vacuum the bulls may well be looking to reverse the recent dip on the S&P500, but will need to break above the Hull AM initial resistance at 6745. If they were to do so, and it may well be after an initial drop, then look for the 6790 are above where we have R1 and the 200ema on the 30m chart. Initial support is at the 6697 key fib, and with the round number also here I would like to see this hold as we are also at the bottom of the rising 20d Raff channel still.
DAX40
Again, a bearish 2h chart to start with and 23850 resistance, with the daly pivot also at 23857. As such an initial drop down to the key fib at 23666 may well play out (this fib also held overnight as support) with the S1 and round number at 23601 below that. Resistance wise above the daily pivot is the key fib at 24005, and then 200ema on the 30m below that at 23930.
Generally thinking a dip and rise may well be the order of the day across the board today, though being Friday it's worth being a bit more cautious.
Good luck and have a great weekend.
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