Technical analysis for 2nd March 2026
FTSE 100 — Bullish (relative strength leader)
- Holding above pivot
- Trend structure intact
- Only shallow pullback vs US & DAX
- Price still riding the channel midline
- Bias: Buy dips
- This remains the strongest index.
DAX — Bearish correction inside bullish trend
- What changed:
- Strong rejection from the channel top
- Large impulsive sell candle
- Price lost pivot + EMA cluster
- Sitting near S3
- This is no longer a simple dip — it’s a daily correction phase.
- Bias: Sell rallies / bearish intraday
- (Only back to bullish if price reclaims the pivot zone.)
S&P 500 — Bearish
- Clean rejection from R1 area
- Strong break below pivot → S1 → S2
- Below EMAs again
- Down-channel structure still dominant
- Bias: Sell rallies → continuation toward lower channel
GOLD — Bullish but pausing at resistance
- Strong trend intact
- Price sitting around R2
- Above pivot & EMA support
- No structural breakdown
- Buy pullbacks (not highs)Bias:
- Momentum pause ≠ reversal.
One-line trading bias - Below 10,888 = sell rallies → target 10,821 / 10,779.
Expected session behaviour
- Most likely FTSE path today:
- Early push into pivot (trap longs)
- Rejection
- Sell toward S1
- Possible extension to S2
Well this will be an interesting start to March for obvious reasons..... Whilst the wars first objective has been more than likely met, the next stage is key to avoid a long protracted drawn out affair. Civii war, new regime, what's next?! Having been watching the weekend markets, oil has dropped back a bit (it was up 12% at one point) as OPEC has ramped up output; the FTSE100 is up from its lows and defended the 10800 level, but has already closed the gap from Friday at 10862 so the bulls will be looking to push higher than that.
That said, it looks like there may be an attempt at a bull Monday, but its still got strong resistance at the daily pivot and red 30m coral area at 10880, along with the Hull MA as resistance at 10890 on the 2h chart (now bearish unsurprisingly). Ergo its in a sell the rallies set up really for today, with some caution advised.
If the bulls were able to break above the 10890 level then we may well see a push for the key fib at 10946 and a break of R1 at 10921, though this does feel a little bit optimistic.... If we were to break above R1 though then it does make things look a bit more positive and we may well have seen the lows for the moment at 10800...... That said I prefer shorting around the 10890 level!
Support wise then 10821 S1 initially, with 10800 overnight low and the 30m 200ema, but also a possible test of S2 at 10780 and the bottom of the 10d Raff also here - as such if it were to get this low then a bounce here later on may well play out. The US markets are usually positive following an attack such as this (support the commander in chief etc) and we may well see a bounce on the US markets later on. That would help pull the FTSE up from any late morning dip, and also allow the S&P500 to get back into its daily channels.
It may well be the pattern for the DAX40 and S&P500 as well with a rise and dip playing out - testing the 25060 and 6866 resistance levels respectively.
Good luck today.
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