Technical analysis for 28th November 2025
FTSE 100 — Market Bias
Bias: NEUTRAL → SLIGHTLY BULLISH (but at resistance)
FTSE has rallied out of a downward structure and is now stalling underneath major resistance.
Why (structure):
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Price is above the 10/25 EMAs on both 30-min and Daily → bullish short-term.
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Price is pressing into a major resistance zone at 9,724–9,732 (R1 + trendline) → headwind.
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RSI rising but not overbought.
Market Bias Summary:
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Short-term (intraday): Neutral → Bearish at resistance (9,724–9,732).
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Medium-term: Bullish (bounce from channel bottom).
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Macro-correlation: FTSE lags global indices; rallies are slower, selloffs deeper.
Critical Levels:
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Bullish break: Above 9,732
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Bearish failure: Below 9,676 – 9,680
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Range: 9,680 – 9,724
DAX 40 — Market Bias
Bias: STRONGLY BULLISH
DAX remains the strongest major European index and is leading the global risk-on move.
Why (structure):
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DAX has broken above major resistance and is holding higher highs and higher lows.
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All major EMAs (10, 20, 50, 200) on daily are aligned bullishly.
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Pullbacks are shallow and bought aggressively.
Market Bias Summary:
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Short-term: Bullish — dips are buyable above local support.
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Medium-term: Strong uptrend.
Critical Levels:
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Bull continuation: Above recent highs
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Pullback support: EMA20 (daily).
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Trend invalidation: A daily close below EMA50.
S&P 500 — Market Bias
Bias: STRONGLY BULLISH (mega-cap dominance)
US markets remain in a dominant uptrend driven by tech (NVDA, AAPL, MSFT, META).
Why (structure):
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Price is above all main EMAs on daily and weekly.
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Volatility is extremely low → bullish grind.
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Market repeatedly rotates between tech and small-caps but remains upward.
Market Bias Summary:
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Short-term: Bullish but slow.
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Medium-term: Very bullish (classic late-year melt-up).
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Macro-correlation: S&P leads global risk. FTSE and DAX typically follow its tone.
Critical Levels:
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Bullish continuation: Above recent highs (4,900–5,000 zone depending on the year).
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Support: EMA20 on daily.
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Trend invalidation: Daily close below EMA50 or a break of higher-low structure.
Combined Market Bias
FTSE → Neutral to Slightly Bullish
At resistance, slower mover, but improving.
DAX → Bullish
Leading Europe, strong trend continuation.
S&P 500 → Bullish
Global risk drive remains upward.
Intermarket Outlook:
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If S&P holds bullish → DAX leads → FTSE eventually follows.
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FTSE may underperform but will still trend upward as long as US momentum remains intact.
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