Technical analysis for 6th November 2025
FTSE100 Bias
- Bias: Mildly bullish / Buy-on-dips
- FTSE 100 likely to trade rangebound early (9,720–9,780) before attempting to break higher toward 9,830 if US and European sentiment remains firm.
- BoE Interest Rate decision (hold likely)
- Momentum structure favours dips being bought unless price closes decisively below 9,660, which would signal short-term correction.
S&P500 Bias
- Bias: Mildly Bullish with caution
- Why:
- Technical indicators show a bullish trend (RSI ~ 61, MACD bullish) but also note that momentum is moderating.
- Analysts note the index is stuck in a volatile range … a resolution is likely to come next week.
- Interpretation:
- Trend remains upward — so bias is to buy dips.
- But upside may be limited unless a breakout occurs.
- If support breaks, bias could shift to neutral.
DAX40 Bias
- Bias: Neutral to Mildly Bullish
- Why:
- Charts and indicators show a very strong bullish trend for the DAX40 on multiple time-frames.
- However, resistance levels and macro risks (EU context, data) mean upside isn’t guaranteed.
- Interpretation:
- Use a strategy of buying corrective dips while the uptrend holds.
- Avoid chasing breakouts unless confirmed with volume or momentum.
- A break below key support would weaken the bullish tilt.
A good fight back from the bulls yesterday on the FTSE100 and we are back at the 9780 resistance zone ahead of the BoE rate decision at midday. That is likely to remain a hold, and the FTSE100 may well be slightly range bound to start with. There is now decent support locked in at the 9720 level and I would like to see a drop down to here before a decent climb later and this holding as support.
At this level we have the 30m 200ema, along with the 2h supports - both the Hull MA and the green coral. As such it should in theory hold any test. The bulls will certainly be keen to buy the dips today, and keep the bullish momentum going. The daily Raff channels are continue to head upwards.
Below the 9720 level then the next key support is at S1 and the key fib at 9680 - we could see this today and expect a bounce here as well. A break of this will likely change the sentiment to bearish though, as the bulls will have lost the 9700 level. That may well then see a slide as far at 9600/9550 to end the week. I am more inclined to go with the 9720 holding though and a move higher.
Initial resistance is at 9812 key fib above the 9785 double top area, and then the 9837 R1 above that. Splitting them we do have a daily level showing at 9821 as well. A rise to this R1 today would be good and then a stutter here. If the bulls were to break this then it resumes the highly likely chance of a test of the 9900 level and 9908 is now also showing as a daily level of note, with R3 for today at a slightly optimistic 9991! Not expecting it to get anywhere near that today though!
Generally its still the buy the dips across the board.
S&P500
Similar picture with a dip and rise looking possible and a test of 6750 S1/key fib should then see a bounce towards the 6838 R1 level. The 2h chart has gone bullish again after yesterdays rise, and has 6774 locked in as Hull MA support to start with. If the bulls were to break above the 6840 level then look for 6876 R2. Alternatively a break of 6750 will likely see it slide to the 6706 S2 level and the bottom of the 20d Raff channel here.
DAX40
Dax is also looking bullish on everything apart from the daily chart which still has bearish EMAs, though a muted assault from the bears so far. The bulls will be looking to get the price above the 25ema at 24120 and hold it. The 2h chart is bullish, with the Hull MA support 23900 so any drop down to that would be good to hold. That is also just below the initial support for today from the daily pivot at 23936. Key fib resistance is at 24130, and a break of this will likely see 24295 R1.
Good luck today.
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