Technical analysis for FTSE 100 for 27th March 2025
Fortunately the Spring Statement didn't upset the FTSE100 too much yesterday. Joe Public is a different matter but just wait till the next one! The 2h chart just about remains bullish going into today, but the more the 8655 Hull MA level gets tested then the more likely we are to see the bears take more control. Initially I would like to see the 8640 level hold which was yesterdays low and set up a rise to retest the 8740 recent high area. We have R2 here for today so a test of this would certainly make the FTSE100 look a bit healthier.... a lot will depend on what the US does today though.
The Dax40 took a massive dive off that 23220 level yesterday, fuelled by tariff on autos talk, and is now at 22600 but has the potential for a slide down to the 22256 level today. That may well weigh on the FTSE100 a bit today though.
If the 8640 area does break initially then a retest of the 8610 level that has been holding well is likely, though we still have the 8580 level below that - a long off this will be worth taking if it gets that low.
Initial resistance is from the daily pivot and the now red 30m coral at the 8670 level - the bulls will need to be quick out the blocks today to break above that with 8702 R1 higher up. The bulls are on the back foot to start with today having once again failed to hold above the 8700 yesterday, and sentiment weighted down by bearishness at the moment.
That is changing the stance a little bit from buy the dip to sell the rip, so it could well be an interesting session today. The S&P500 has climbed well from the 5500 level this month and the bulls will be looking to continue to push that higher but the 25 daily ema is still holding as resistance at the 5765 level - that's what he bulls need to break to push that (and in turn other markets) higher.
The 10d Raff channel on the FTSE100 is continuing to head up but after yesterdays bearishness the daily EMAs have crossed over to bearishness and we have resistance now at the 8665 level - the bulls will be looking to break above that today and once again try and hold above 8700.
The ASX200 had a mildly optimistic day today and if 8640 holds for the FTSE100 then we may well see the same. Watch 8700 and 8740 for resistance, 8610 and 8580 for support lower down.
Good luck today
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