Technical analysis for FTSE 100 for 27th August 2025
The S&P500 climbed well yesterday for our 6421 long, and the bulls will be looking to keep the momentum going, despite France's best efforts to unsettle the markets! The 2h chart remains positive for the S&P500 so still thinking that buy the dip is the play for the moment. That optimism should continue to roll through into the FTSE100 and despite having the stop tagged to the point at 9245 yesterday the bulls have managed to buy it back up to the 9300 level.
Initial support is here at the daily pivot 9290, though the 30m green coral is slightly lower at 9270 so I would like to see this area hold for a climb towards the 9330 resistance on the 2h chart, where we have the Hull MA and the red coral. The bulls will be looking to break this level as that opens up another test of the recent high at 9357. It still looks to be possible that a break of this area will see much higher levels (9700+).
Below the 9270 level then S1 is at 9252, and just below the bottom of the 10d Raff channel so the bulls will be looking to regain control at this level, otherwise a slide down to the 9200 area looks possible. With the round number and daily support just above this then a long here would be worth a go as the bulls won't want to see that get broken easily.
If it got very bullish today and they manage to break above the 9360 then look for a rise towards the 9400 level, with a stutter at R2 at 9374. The top of the 20d Raff channel is at 9412, and just below 9419 R3 so I wouldn't expect it to get past that, and even testing this level today might be a big ask.
Generally I am thinking that we see a test of the 9330 area then a drop back down.
Its looking similar for the S&P500 which will look to climb towards the 6500 level and with that splitting R1 and R2, along with the key fib at 6498 we may see a stutter in this area, as its also the round number. May well see some of the profits being taken here from after the 6421 bounce. Support is at the daily pivot and the green 30m coral at the 6453 level so look for a hold of this, though a break would target the 6433 S1 and 30m 200ema level. 6450 is also the Hull MA on the 2h for support. NVIDIA later will have a big bearing on proceedings! Buy the rumour, sell the news likely.
The DAX40 will need to defend the daily pivot and green 30m coral at 24190 initially, otherwise the bears will likely drive it down to the 23996 key fib level, which may well then see a bounce so worth a long here if seen. A rise to test the R1 and key fib level at 24333 initially looks like it may materialise, with 24445 above that. The 2h chart is weakly bullish, as the bears have managed to take it below the Hull MA support already at 24214. A rise and dip may well play out this morning on this also.
Good luck today.
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