Technical analysis for 10th November 2026
Global financial markets begin Tuesday with renewed optimism following a powerful recovery across European and US equities on Monday.
The S&P 500 recorded its strongest daily gain since April, while the FTSE 100 and DAX 40 both advanced as falling oil prices helped ease concerns about inflation and economic growth.
Asian markets have extended the recovery overnight, with technology and semiconductor shares rebounding strongly following last week's sell-off.
However, today's most important event is the US Consumer Price Index (CPI) release at 13:30 GMT. The figures could significantly influence expectations for the Federal Reserve's December interest-rate decision.
The central question is whether lower energy prices can offset persistent underlying inflation and provide the foundation for a sustained recovery in global equities.
The technical picture has improved significantly since yesterday. The FTSE has extended its recovery, broken above its short-term moving averages and established a clear sequence of higher highs and higher lows on the 30-minute chart.
The daily RSI has strengthened to approximately 57, suggesting positive momentum without the market being overbought.
I favour buying a confirmed pullback rather than chasing the market higher at 10,850.
I favour a BUY initially around 10,825 following a confirmed bullish reversal, initially targeting 10,875, followed by 10,904. Lower down then we have strong support at the 10770 daily pivot level and also worth a long here. We may well see a bear Tuesday kick in later, especially with the US CPI news at 1330.
If the FTSE breaks above 10,904 and holds, I would look for a continuation towards 10,975.
Overall prediction: cautiously bullish, with the FTSE likely to test 10,904 today. A successful breakout could extend the recovery towards 10,975, while a rejection could trigger a pullback towards 10,825–787.
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