Technical analysis for FTSE 100 for 30th June 2025
Well the bulls are wrestling control back again to start with as we have a GDP coming in as expected to start with this morning, with 0.7% for Q1. Initially today we could see a dip and rise play out though as the US markets have a gap to fill with the S&P looking to close that by testing the 6170 level. Across the board it looks like the daily pivots will provide initial support on any drops, with the 8777 for the FTSE100, 23970 for the DAX40 and 6162 for the S&P500.
So, for the FTSE100 if we do get a drop down we should then see a bounce as bull Monday kicks in later. It's a shortened week for the USA as well so they may well be front loading and we also have NFP on Thursday instead. Below the daily pivot then the 8767 is the 30m 200ema, but a test of the S1 and Hull MA support level at 8750 looks more likely, and if seen should generate a decent bounce.
The bulls will of course be looking to break above the 8800 level again, though we then have daily resistance at 8820 and the key fib at 8823. As such this level should see the bears have a go, especially as we are also just breaking above the 10d Raff channel to start with, at 8795.
The 2h chart is now looking bullish again and just below the Hull MA 8750 we have the green coral at 8736 to lend some support. If however it all gets bearish then the next support level of note would be the S2 and key fib area at 8712. I am not expecting it to get that low.
Above the 8820 level then we may well see the bulls attempt another assault for 8900 and we have resistance on the daily chart just below that at 8892. That may be a big ask for today though as you know I am still favouring more upside this year and fully expecting 9000 at some point. Just prior to that daily resistance level we also have R3 at 8869 for today.
For the S&P500 the bulls will be looking to crack the 6200 level and that would likely see a test of the 6218 R2 level, as we are just currently sat on R1 and the key fib at 6195. Above 6218 then look for a rise towards 6250 R3, snd also a break then above the 20d Raff channel top at 6230. Below the daily pivot support of 6162, then the bears would likely try and drive it down to the 6135 area for a test of S1 and the green 2h coral line here. That would likely hold as that is the first test off that coral since it went green last Monday.
Similar outlook for the DAX40 with a bull Monday likely, and a rise towards the R2 level at 24349. Its just breaking above the 20d Raff channel to start with but any drop back to test that and possibly the daily pivot at 23970 should then see a bounce, as we also have the 2h Hull MA here. Lower down then the key fib and 30m 200ema are at 23750 area so look for a bounce there if it gets that low.
Good luck today.
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