Technical analysis for 15th December 2025
FTSE100 Bias
- BIAS: NEUTRAL → SLIGHTLY BULLISH (DECISION POINT)
- Current State
- Price is sitting right on the Daily Pivot (~9,685).
- Compression between a larger green rising channel and a minor red descending channel.
- 30-min EMAs flat and clustered → impulsive move likely.
- RSI ~52 → balanced, no momentum extreme.
- Bias Rules
- Bullish above: 9,705
- Upside targets: 9,725–9,735 → 9,780
- Bearish below: 9,670
- Downside targets: 9,620 → 9,560
- FTSE Today
- Expect range → breakout behaviour.
- Direction likely decided in London morning.
- FTSE is no longer weak, but not leading yet.
- Neutral at pivot, trade the break
S&P500 Bias
- BIAS: STRONG BULLISH (GLOBAL DRIVER)
- Current State
- Above all major daily EMAs.
- Higher-low structure intact.
- Low volatility → classic bull grind.
- No confirmed distribution or reversal.
- Bias Rules
- Bullish while above: Daily EMA20
- Normal behaviour: Sideways → slow grind higher
- Bearish only if: Daily close below EMA50
- S&P Today
- Buy dips, avoid chasing.
- Directional moves likely later in US session.
- Strong bullish trend
DAX40 Bias
- BIAS: BULLISH (EUROPEAN LEADER)
- Current State
- Still above key daily EMAs.
- Structure remains higher highs / higher lows.
- Dips continue to attract buyers.
- Less affected by FTSE chop; more tied to S&P.
- DAX Today
- Prefer buy-the-dip strategies.
- Breakout continuation valid if S&P supports.
- Shorts are low probability.
- Bullish leader
That was a great short on Friday from the 9760 level, and the bears certainly took control with the break below 9700. However, having tested that lower 9640 support level the bulls have fought back a little bit and we are sat on the daily pivot pivot at 9688 to start with, at a point of indecision. Initially I am thinking that we will see a bit of a bull Monday kick in and a rise towards the 9742 S1 and key fib level to start with... however there is a bearish 2h chart in play with the Hull MA at 9690 - so the bulls will need to break this level straight away if that rise is to play out.
If it holds as resistance then a drop down to retest the 9640 level looks likely, and probably down to the 9620 area where we have S1 and the key fib.
The 20d Raff channel continues to head upwards but the 10d Raff is still heading down, so the FTSE is still struggling to push on this month. If the bulls were to break above the 9760 Friday high level though, then we should see the Santa Rally play out properly and continued upside towards the 9860+ area. Helping the bulls with an initial push up is the green 2h coral which shows a bullish bias and may help them break that Hull MA resistance.
Below the 9620 level then the bears will be aiming for 9600, and then S2 at 9560 where we also have the bottom of the 10d Raff channel. I don't think it will be that bearish today though, and the S&P500 may well push up towards the 6900 level, and that bullishness may well filter through to the FTSE100 as well.
It may well be a similar picture for the S&P500 and DAX40 with a slow drift upwards - they are also both on the daily pivot levels as I write this and the bulls will be looking to gain the upper hand initially. The main resistance levels are 6900 and 24381 respectively.
Good luck today.
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