Technical analysis for 12th January 2026
FTSE100 Bias
- STRONG BULLISH (LEADER / ACCEPTANCE PHASE)
- Holding above 10,000 → psychological level accepted.
- Trend firmly up (higher highs / higher lows).
- Intraday structure = bullish consolidation, not distribution.
- Bias: Buy dips / continuation.
- First caution: Sustained move back below ~9,980–10,000.
S&P500 Bias
- STRONG BULLISH (GLOBAL ANCHOR)
- Firmly above daily EMA20 & EMA50.
- No topping or distribution signals.
- Low volatility → grind-higher regime.
- Bias: Trend-following longs; buy pullbacks.
DAX40 Bias
- BULLISH CONTINUATION
- Structure remains bullish above key daily EMAs.
- Pullbacks are corrective, not impulsive.
- Supported by FTSE strength and global risk-on tone.
- Bias: Buy dips; avoid countertrend shorts.
FTSE100 Roadmap
- Above 10,020: Bias remains bullish
- Above 10,195: Momentum continuation day
- Below 10,020: Deeper pullback toward channel base
Well the FTSE100 is starting fairly positively above the 10100 level and we may well see a Bull Monday if the S&P500 doesn't drag it down, having gapped lower since last night. Initial support is at the daily pivot at 10111 and we also have a bullish 2h chart to start with, and support from the Hull MA at 10105. As such, if the bulls are quick out the blocks then we may see a rise towards the recent high at 10160 again, and we also have the key fib level here for today. As such, and being just above the 10152 daily resistance level, we may well see any rise stutter here. A break higher though and then we can look for a test of the 10194 level R2, and also that is just above the daily resistance at the 10185 area.
I am thinking that we may well see a rise and dip play out today, as generally we still have the bullish bias and the daily Raff channels are still firmly heading upwards.
Below the daily pivot then a move down towards the 10065 200ema would likely play out, with S2 at 10028 below that. We may well see any test of this level hold as we also have the lower key fib support here, and it's just above the 10008 daily support. That said, we may not get that low today and we may see the bulls defend the 10100 level well.
It's a similar outlook for the DAX40 and a rise and dip with a test of the 25350/25360 resistance area looking likely before a dip back down. It would be good to see the daily pivot support hold at the 25227 level as a break of this may well see a slide to the 25030 key fib level.
For the S&P500 the bulls will be trying to close the gap with Friday's close at the 6964 level and then a possible test of the 6990 R1 and key fib. Obviously we are then tantalisingly close to the 7000 round number, which may be possible, though the 6690 may see a reaction and keep it out of reach. S1 is initial support at the 6925 area, as we also have the 30m 200ema here, and while the 2h chart is bullish initially, we are below the Hull MA support at 6943, so again the bulls will be aiming to push higher above this.
Good luck today.
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