Technical analysis for 23rd February 2026
FTSE100 Bias
- Bullish bias (trend continuation)
- Clean sequence of higher highs & higher lows
- Riding the rising channel top half
- EMAs stacked and pointing up
- Current pullback = controlled, not impulsive
- Plan
- Longs on dips into 10,60x – 10,56x (pivot / EMA support)
- Targets: 10,74x → 10,80x → 10,88x
- Bias weakens on a daily close below 10,56x, flips below 10,49x
- Summary: Strongest structure of the three — continuation favoured.
S&P500 Bias
- Neutral → slight bullish recovery
- Still inside a broader descending channel
- Price holding around the pivot after a bounce
- EMAs flattening → momentum not yet trending
- Needs a breakout for a true bullish shift
- Plan
- Above 6,90x → opens 6,94x → 6,97x → 7,02x
- Below 6,84x pivot area → 6,80x → 6,74x
- No edge mid-range
- Summary: Range / transition market — wait for level break.
DAX40 Bias
- Bullish bias (buy-the-dip)
- Strong trend intact → price holding above rising 10/25/200 EMAs
- Still trading inside the upper half of the bullish channel
- Latest candle = shallow pullback into dynamic support (EMA cluster / mid-channel)
- Plan
- Prefer longs above 25,000 – 24,95x support zone
- Upside targets: R1 → 25,38x → 25,53x → 25,72x
- Bearish only on a daily close below 24,85x (trend structure break)
- Summary: Trend continuation unless channel support is lost.
Today’s directional prediction
Early dip / range → bullish recovery later toward 10,763.
Tariff news races back to the forefront after the Supreme Court ruling, however looking at the charts it would appear that we will still get a bullish Monday! We are looking to open around the initial support level at S1 10657, which may well see us get an early climb to test the 10700 area again and the daily pivot. 10692 is also the red 30m coral so the bears may well try and attack at this area first thing.
Above the 10700 level then the bulls will be aiming for 10761 where we have R1 and the key fib, and just above Friday's high at 10745. Higher still then look for a test of the daily resistance level at 10782, though that could be a big ask for today.
Support wise, if the bears were to break below the S1 level then we may well see a slide as far as the 10600 level and a test of the daily support here. We also have S2 and the bottom of the 10d Raff channel here so should it be seen then it is likely to hold. The US bulls will certainly be keen to push it up today just so as to avoid any tariff news driven breakdown.
It's also all eyes on Nvidia as latest results due out Wednesday.
Generally today then its buy the dip across the board, and I am looking at the various S1 levels holding as you can see from the prediction charts.
Good luck today.
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