Technical analysis for 19th March 2026
FTSE 100 — Bearish
- Structure
- Rejected from pivot / EMA resistance
- Lower high formed
- Downtrend channel intact
- Momentum rolling over again
- FTSE now aligning with US weakness.
- Bias: Sell rallies
DAX — Bearish continuation
- Structure
- Strong rejection from pivot / EMA zone
- Back below key support
- Still in a clean descending channel
- Lower highs clearly intact
- Yesterday’s bullish attempt has fully failed.
- Bias: Sell rallies
NASDAQ — Bearish
- Structure
- Clear rejection from pivot / EMA cluster
- Lower high confirmed
- EMAs sloping down again
- Price rolling back toward channel lows
- Momentum has shifted back down.
- Bias: Sell strength
S&P 500 — Bearish continuation
- Structure
- Still inside strong descending channel
- Lower highs + lower lows intact
- Weak bounce followed by rejection
- Price holding near lower structure
- Trend remains firmly bearish.
- Bias: Sell rallies
GOLD — Strong bearish
- Structure
- Large bearish impulse candle
- Clean rejection from pivot / EMA zone
- Lower high confirmed
- Momentum accelerating downward
- This is the clearest trend on the board.
- Bias: Sell rallies (strong)
The drop off the 25ema on the daily at 10440 accelerated yesterday as the bears took more control following an escalation on the Iran attacks on oil and gas infrastructure and it all looking like it's going to continue fr the foreseeable. There might not be enough US and Venezuelan oil to stop it rising past the $150 level though.....
For the FTSE100 today we have the BoE rate at 1200, expected to remain as is, and unemployment just out at 5.2%, slightly below forecasted and the same as previous. As such, I am thinking that we will get a rise and dip play out today as a bit of buy the rumour sell the news plays out, and the bulls try and push the price up towards the Hull MA resistance on the 2h chart at 10335.
Whether they can get that high remains to be seen, as we have a strong cluster of resistance at the 10290 area with the daily pivot here, just shy of the round number, along with the 30m 200ema and red 30m coral. As such, a rise to the pivot and then a dip down would fit the charts well.
Above the 10315 200ema we should see the Hull MA 10335, and then R1 at 10378 is the next level above that - that feels a bit optimistic though unless we get a sudden change in the war....
Support wise, we are just below 10200 so the bulls will be looking to get the price back above the round number, though we are still on course for a test of the 10105 daily support level and recent low 10080 (9th March low). We do have S1 at 10136 in play as well, if the bulls put up a decent fight so look for a bounce off this as well.
Generally it looks like an early rise for all the markets, with the daily pivot providing the main resistance across the board. As you can see from the trends table and bias above, it's still short the rallies for all markets we watch.
Good luck today.... stay nimble!
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