Technical analysis for 26th January 2026
FTSE100 Bias
- Bias: Bullish → Neutral (Pullback Phase)
- Structure
- Still in a rising channel
- Price holding above EMA 25/200
- Pullback from R1 but structure remains constructive
- RSI mid-range, not overbought
- Key Levels
- Resistance: 10,175 → 10,250 → 10,315
- Support: 10,110 → 10,080 → 10,040
- Plan
- Prefer buy-the-dip setups at channel support / S1
- Bearish only if daily close below 10,050
S&P500 Bias
- Bias: Neutral → Bearish
- Structure
- Price stuck near Daily Pivot / EMA zone
- Inside a downward-sloping channel
- RSI weak, struggling to regain bullish territory
- Bounce attempts are corrective, not impulsive
- Key Levels
- Resistance: 6,925 → 6,950 → 7,070
- Support: 6,880 → 6,840 → 6,780
- Plan
- Fade rallies near R1/R2
- If 6,880 breaks, expect continuation toward 6,840–6,780
DAX40 Bias
- Bias: Bearish / Sell Rallies
- Structure
- Price remains inside a descending channel
- Below falling EMA cluster (10/25)
- Rejection from R1/R2 zone and trendline
- RSI holding sub-50 → momentum still weak
- Key Levels
- Resistance: 24,920 → 25,060 → 25,280
- Support: 24,780 → 24,520 → 24,300
- Plan
- Prefer shorts into resistance
- Bullish only if daily closes back above 25,100
FTSE100 Roadmap
- Below 10,147: Rallies = sells
- At 10,020–9,980: Watch for buyers to defend trend
- Above 10,176: Momentum continuation toward 10,210+
Today’s Likely Path
- Early: Test of 10,110–10,080
- Mid-session: Either
- Bounce back toward 10,147–10,176, or
- Acceptance lower toward 10,020
- Best bull case: 10,210–10,240
- Bear case: 10,045–10,020
If the bulls can defend the FTSE100 this morning then we should be on for a bull Monday, and the key support to look for is 10110 initially as we have S1 and the bottom of the 20d Raff channel here. The bias for the FTSE100 remains bullish despite the slightly weaker session on Friday, and the bulls will be looking to break above the 10156 200ema today, to test the 10196 daily resistance level.
Below the 10110 level then I am looking at the 10083 support level and would like to see this hold if tested to set up a decent bounce. As well as daily support here, it is also S2 for today. The reason for expecting supports to hold is that the S&P500 2h chart is bullish with support at the 6890 level and S1 at 6886 and as such the bulls may well defend there, which will likely help the FTSE100 to climb.
Resistance wise for the FTSE100 then 10155 and 10200 as mentioned, and then above this we could ultimately reach the 10242 R3 level, and also keep an eye out for the daily level at 10283 above that. The FTSE100 has got a little more choppy recently, but the bulls are still defending the dips for the moment.
Overall Global Bias
- Slightly Risk-Off / Defensive
- Europe (DAX) showing trend weakness
- US market struggling to reclaim bullish structure
- FTSE remains the relative strength leader
Generally today I am expecting a bull Monday and the 10110 area to hold. Good luck and have a good session.
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