Technical analysis for FTSE 100 for 6th October 2025
We have tested the 9504 resistance level from Friday overnight and seen a modest reaction so the bulls will be looking to break above that today which would more than likely get a rise towards the 9543 level. This may well cap proceedings for today but if not then I am looking for a rise towards the 9600 area where we have the next daily resistance level. That may well be a big ask for today though as the US government shut down continues into this week, and gold continuing to rise (usually a safe haven in terms of uncertainty) but also more crucially the daily RSI level is currently at 75 - so that could limit upside, though of course the RSI can remain overbought (above 70) for a while before we see that reflected in the price.
We are also looking bullish on the daily chart and the top of the 20d Raff channel is now close at 9515, which the bulls will also be looking to break above. We may well see a false breakout above this and then a drop back today though. 9513 is also R1. As such if we break above this then we should see a bullish continuation to target that 9540 area.
Below the daily pivot at the 9470, which is going to be initial support for today, then we will likely see the bears aiming for a test of the 9440 S1 level, and we also have the 200ema on the 30m just below this at 9425. That said, we have a green 30m coral in play initially with support at the 9485 level, and I am thinking that a bull Monday may well play out nicely, if we break above the 9505 level this morning.
Once again we have a UK PMI figure out at 0930, construction this time, with a forecasted uptick to 46.1 versus 45.5 previously. BoE governor Bailey is also speaking later at 18:30.
As you can probably tell I am thinking that we will get a rise and dip play out today, with a test of that 9540 area looking likely.
That may well be a similar picture for the S&P500 with a rise towards the 6770 R2 resistance zone. Initially we have a gap at 6715 from Fridays closing area so a potential drop down towards this and the daily pivot support at the 6723 level would make sense. Also as the FTSE100 drops off initially having tested 9504 which may well see the S&P500 follow it down initially. If the bears were to break the pivot then look for a test of the 6700 level where we have the 200ema, just below the 2h green coral, and the round number. 6696 is also S1, so a hold of this area would be good. Again the bulls are in control still and the daily Raff channels continue to head up.
The Dax is just on its daily pivot and 30m coral resistance at the 24415 level but if the bulls can break this then a rise towards the Hull MA resistance at 24530 would be good before another move from the bears here. If the bears take control initially though then it may well slide as far as the 24200 area where we have S2, the key fib and the 30m 200ema. Look for a bounce here. However, we do also have the green 2h coral at 24306 to start with which we have seen a few bounces off so far. I would be more inclined to go with a rise towards the 24550 area and then a drop later on.
Good luck today.
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