Technical analysis for 18th March 2026
FTSE 100 — Bullish correction
- Structure
- Multiple higher lows forming
- Price reclaiming pivot
- Strong bullish candles building
- Still inside broader descending channel
- FTSE showing relative strength again.
- Bias: Buy pullbacks
DAX — Bullish pullback inside downtrend
- Structure
- Strong bullish candle pushing back above pivot
- First higher low attempt after selloff
- Still inside descending channel
- EMAs still downward (trend not flipped)
- This is a corrective bounce, but with momentum.
- Bias: Buy dips (short-term) / sell higher resistance
NASDAQ — Bullish recovery attempt
- Structure
- Price reclaiming pivot
- Higher low forming
- Strong bullish follow-through candle
- EMAs flattening
- This is one of the cleaner recovery structures.
- Bias: Buy pullbacks
S&P 500 — Early bullish bounce
- Structure
- Bounce from channel lows
- Price pushing toward pivot
- EMAs still down but losing momentum
- Higher low forming
- Not a full reversal, but momentum shifting.
- Bias: Buy dips (cautious)
GOLD — Bullish reversal attempt
- Structure
- Holding around pivot
- Strong reaction upward from recent lows
- EMAs flattening
- Momentum turning positive
- Potential shift from correction → recovery.
- Bias: Buy dips (needs confirmation above R1)
What a difference a few sessions make - the bulls grabbed the, errrrrr, bull by horns yesterday and managed to test the 25ema at 10430 for a small bearish reaction. We are back at this level to start with this morning so it is still the line in the sand and again we may well see a dip off this to test the daily pivot support at the 10370 level. The 2h chart is now bullish (as you would expect) with Hull MA support at 10350 currently and rising. As such if we do get an initial dip down then a bounce off this zone would make sense.
Of course we have some key news out today with the FOMC rate decision at 1800, albeit with no change forecasted. Then tomorrow we have the BoE. Again no change forecasted but inflation is still running hot and with the Iran war likely to stoke inflation, expectations of any imminent cuts are out the window.
Above the 10430 level then 10448 is the key fib, but the bulls will be aiming for the 10500 round number, and just below R2 10503 today. If we do see a bullish week continue to pan out then we remain on target for a test of the 10541 daily resistance level and the top of the 10d Raff channel.
On the flip side, if the bears were to break below the daily pivot then I am looking at the 10302 level as the next major support as we have the S1 and key fib here, along with it being the round number, and also the green 2h coral level. Should we drop that low then I would like to see this hold.
All things considered the FTSE100 has held up pretty well the past few weeks, no doubt helped by the oil price rising, and still well above the level we started 2026 at. Having tested 10100 we have seen the bulls steadily trying to regain control. I still think that generally we will be bullish in 2026 and then 2027 will be the more negative year....
Similar picture for the DAX40 and S&P500 with a potential dip and rise, and a test of the 2h supports at 23650 and 6675 respectively. That said, the DAX40 does have initial support at the 23800 level to start with and the bulls will be keen to defend any opening drop - so look for a hold of this level. The DAX40 is also testing the 23911 200ema as I write this, hence thinking an initial drop from this area.
Good luck today.
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