Technical analysis for 9th October 2026
Global markets are ending the week on a more cautious note, although there are early signs of relief in oil prices and government bond yields this morning. Yesterday's renewed surge in crude oil pushed inflation fears back into focus, triggering another sell-off in European equities and US technology shares. However, reports of a possible pause in US military action against Iran have helped oil retreat from its highs, while demand for US government bonds has improved. The most interesting development is in Gold, which has started recovering as the dollar and Treasury yields ease.
The FTSE 100 is showing signs of recovery this morning, with the DFB trading around 10,532, broadly unchanged on the session. There is an important difference between today's charts and those from earlier this week. The 30-minute chart has improved considerably. Price has recovered from the 10,400 area, established a sequence of higher lows and is now consolidating above its short-term moving averages.
However, the daily chart remains bearish, with the FTSE trading below both its 10 and 25 EMAs and inside the larger descending channel.
My expectation today is for an initial attempt to push higher towards 10,560–595, but this is where the market faces its first serious test.
The immediate battle is:
- 10,540–560 resistance versus 10,479 pivot support.
- Above the pivot, I favour allowing the recovery to continue.
- Below the pivot, the bearish daily trend would become more important again.
For more more analysis including other markets please join...
Interested in how to start trading the FTSE 100? Frequently Asked Questions on Spread betting
Recommended Broker for trading - MT4/5, web and mobile
IC - offers market leading pricing and trading conditions by providing clients with True ECN Connectivity; this allows you to trade on institutional grade liquidity from the world’s leading investment banks, hedge funds and dark pool liquidity execution venues. Highly recommended!
Join my Membership for Trading Tips, Support and Resistance Levels with Live Trading
If you would like more detailed analysis for FTSE 100, DAX40, Gold and the S&P500, including the trades that I am looking to take myself, then please join my active members community.
Keep up to date with new website posts, free sign up below
