Bulls defending 9620 still | 9577 below | 9660 9707 9725 resistance

Technical analysis for 11th December 2025

FTSE100 Bias

• BEARISH (INTRADAY & DAILY)
  • FTSE remains the weakest of the major indices today.
• Why
  • Trading below all EMAs on the 30-min and Daily.
  • Clear downward channel controlling price.
  • Rejected from Pivot (9,664) overnight.
  • Lower-high, lower-low structure fully intact.
  • RSI falling (≈47).
• Bias Rules
  • Bearish while below: 9,664 (Pivot)
  • Very bearish below: 9,626 (S1)
  • Only bullish above: 9,702 (R1)
• Expected Behaviour
  • Rallies likely sold
  • Continuation move toward 9,577 → 9,546
  • Reversal only if strong DAX/S&P support kicks in
• SELL RALLIES / SELL BREAKDOWNS

The bulls managed to defend the 9620 area once again with the FED's help and have even held up well overnight, despite the near 100 point S&P500 slide from 6900. As such that has made kept the 2h chart bullish to start with today with Hull MA support at 9630 and the bulls will be looking to defend any drop down to this area initially. 9626 is also S1 to lend some support here.

Below that then I still expect its to test the 9580 area and with S2 at 9577 and the bottom of the 10d Raff channel also here I would then like to see a decent hold and bounce from this area. If it were to break then look for a slide to the 9546 S3 level but that may well be a bit too bearish for today....... famous last words!

Initial resistance is at the daily pivot level at the 9656 and we also have the 30m coral and 200ema here, so the bulls will have a bit of a task on their hands to break above this. If they manage to do so then look for a test of the 9707 level where we have R1 and also the top of the 10d Raff channel today. We could get a full crossing of the 10d Raff today....

Generally the FTSE100 looks set for a dip and rise day.

That also looks like a similar pattern for the S&P500 and DAX40 with drops from the daily pivots at 6847 and 24136, down to test the 6796 and 23986 support levels respectively. These two are more bullish than the FTSE100 as they both still have ascending daily channels so it would be good to see the FTSE catch up with them, unless its front running and in that case the Santa Rally looks a bit evasive for the FTSE100!

Good luck today.