Technical analysis for 9th November 2026
Global financial markets begin the new trading week with signs of recovery following one of the most turbulent periods for technology shares in recent months.
Asian equities are rebounding, US stock futures are higher, and investors are cautiously returning to semiconductor companies following last week's sharp sell-off.
However, the underlying concerns have not disappeared. Investors remain uncertain about the profitability of artificial intelligence investment, the potential for tighter US regulation and the direction of interest rates.
Friday's stronger-than-expected US employment report has added another complication by increasing expectations of a further Federal Reserve rate rise in December.
This week's most important scheduled event is Tuesday's US inflation report, which could determine whether the recovery in equities develops into a sustained improvement or another short-lived rebound.
For now, the market backdrop is more constructive than Friday morning, but confidence remains fragile.
The market is showing signs of recovery following Friday's weakness, with the 30-minute chart establishing a sequence of higher lows and price holding above the daily pivot. However, the daily chart remains less convincing. The FTSE is trading below its daily 10 and 25 EMAs, while RSI remains below 50, suggesting the broader correction has not yet ended.
My prediction today is for an initial attempt to recover towards 10730, followed by a potential rejection unless buyers can establish a sustained breakout above 10730.
Unlike Friday, I have a slight bullish preference for the opening session, but would become bearish again if the FTSE fails around 10730.
Today's bias: Cautiously bullish above 10628. The short-term recovery is encouraging, but the daily trend still favours caution.
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