Technical analysis for 5th November 2025
FTSE100 Bias
- Neutral-to-Bullish short-term, with upward recovery momentum holding above the daily pivot.
- FTSE 100 is attempting to stabilise after early-week weakness.
- Holding above 9,690–9,670 keeps the short-term uptrend valid.
- Above Pivot = Buy dips, Below S1 = Sell rallies.
- Watch RSI and EMAs closely for intraday momentum confirmation around the U.S. open.
S&P500 Bias
- Bias: Mildly Bullish, with caution
- Why:
- The daily trend remains upward with price above major EMAs and momentum intact.
- Short-term indicators suggest some exhaustion and consolidation may be due.
- Trade Focus:
- Prefer buying dips near support
- Be cautious chasing breakouts
DAX40 Bias
- Bias: Neutral to Mildly Bullish
- Why:
- The index remains within a broad up-trend and technical signals lean positive overall.
- However, resistance is tightening and short-term momentum is fading, so upside is not assured.
- Trade Focus:
- Look for supportive dips
The FTSE100 proved quite resilient yesterday putting in a big drop and rise, and it was certainly worth reloading the longs around the 9600 area as we did in the live room. The bulls managed to recapture 9700 but lost it overnight with 9650 tested. Today looks like they will be trying to build on that as the bias remains up, albeit slightly weaker. The key today will be the defence of the daily pivot at 9668, likely to be seen this morning.
If the bulls can defend this then we should see a rise towards the red 2h coral at 9730. A break of this will then open up a potential test of the daily resistance and R2 at 9820 - with yesterday's drop and bearishness disappearing into the rear view mirror! On route to the 9820 area we do also have R1 at 9763 so keep an eye on that for a reaction and if it starts to drop then worth shorting it.
However, if the bears break the daily pivot support then 9608 is the next key level and we have S1 and the key fib both here - a level that the bulls will certainly be keen to defend otherwise the bearish momentum resumes and the likelihood of a test of the 9475 which is daily support gets stronger. To be honest, a Q4 dip and then rise into year end to target the 9900 area still has potential and would also unwind some of the overbought conditions on the daily chart that we currently have.
The bottom of the 10d Raff channel for today is at 9590... then yesterday's low at 9570. Bear in mind we don't have Rachel Reeves talking it down this morning - bit strange doing that speech two weeks before the budget.... softening the blow?
S&P500
Similar picture here with a dip and rise looking likely again, as the bulls will be looking to break above the 6800 area and build on the bounce from 6720 yesterday. The 2h Hull MA is at the 6800 level though, with the red coral 6850 above that. I would like to see the 6720 area hold again if seen as we also have S1 and the key fib at 6713. A break of 6810 and the bulls will likely see 6850, and then 6868 R2. Whilst the 2h chart is bearish, the daily remains positive, with both the Raff channels rising still.
DAX40
Has also dipped and risen overnight and the bulls will be aiming for the 24000 level and a test of the 30m 200ema, and then 24027 key fib above that. They will have to break the daily pivot though at 23880 to do so, and we may well get an initial drop off that this morning to test the key fib at 23679. The daily candles have long tails showing buying pressure, but the EMAs are still bearish with the 24098 25ema now main resistance on the longer timeframe.
Good luck today.
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