Technical analysis for 1st September 2026
The key development overnight is the global bond sell-off accelerating. The US 10-year Treasury yield has pushed to around 4.78%, its highest since early 2025, while German and French yields have reached roughly 15-year highs. At the same time, renewed US-Iran tensions have driven Brent above $91, adding another inflationary problem.
The FTSE100 reopens after Monday’s bank holiday and must absorb two sessions of higher oil, rising global yields and renewed geopolitical risk. That said, we may well see a rise and dip as the new month money flows in this morning, before the bears regain control later for a bear Tuesday. We dropped off Fridays 10830 resistance area well and we now also have the red 2h coral here so I still like this area for a short this morning.
The bulls will be looking to defend the recent low at 10750 and also to try and hold above the pivotal 10825 level but we may not see that till later this week. Initially they have resistance at the daily pivot at 10785 so will need to break this first thing. If they fail then a drop back towards S1 at 10743 and the 10731 daily support level looks good for a long.
If the bulls were to break above the 10830 level then Friday's high 10851 and then the 10866 and 10894 resistance levels come into play - worth keeping an eye on all of these for a reaction and possible shorts.
Whilst the shorter time frames are bearish, the daily still looks positive and now we are moving out of the slow summer trading period we may well see the FTSE100 resume its bullishness. I still think we will see a test of 11000 this year....
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