Technical analysis for 10th December 2025
FTSE100 Bias
- TODAY’S BIAS: BEARISH (INTRADAY + DAILY)
- FTSE is the weakest of the three indices today.
- Why
- Below all intraday EMAs (10/25/200)
- Below Daily Pivot
- Strong bearish candle on the Daily yesterday
- Down-channel clearly defined, and price is travelling inside it
- RSI falling (≈43) → momentum bearish
- Overnight consolidation below pivot = bear flag continuation
- Bias Rules
- Bearish below: 9,651
- Very bearish below: 9,591 (S1)
- Only bullish above: 9,665
- Behaviour Today
- Expect rallies to be sold
- High probability of continuation drop to 9,591 → 9,567
- Trend upside unlikely unless 9,665 recaptured
- SELL RALLIES / SELL BREAKDOWNS
S&P500 Bias
- TODAY’S BIAS: STRUCTURALLY BULLISH, INTRADAY NEUTRAL
- Why
- Above all major daily EMAs → long-term trend still strong
- Higher-low structure intact
- BUT currently in a short-term consolidation / digestion phase
- No fresh breakout energy yet
- Typical pre-CPI / pre-Fed style coil behaviour
- Bias Rules
- Bullish while above: Daily EMA20
- Neutral between: Recent range highs and EMA20
- Bearish only if: Daily close under EMA50 (not close)
- Behaviour Today
- Expect slow, sideways-to-uprange movement
- Buyers still in control overall
- Not a strong trending morning session
- Bullish in big picture, neutral near term
DAX40 Bias
- TODAY’S BIAS: NEUTRAL → SLIGHTLY BEARISH INTRADAY / BULLISH IN BIGGER TREND
- Why
- Medium-term structure remains bullish (above daily EMAs).
- However, intraday momentum has weakened.
- Price struggling to make new highs.
- Correlation with FTSE weakness + S&P soft open weighs slightly.
- Bias Rules
- Medium-term bullish
- Intraday bearish
- Upside continuation only if: New highs break strongly
- Behaviour Today
- Two-sided, choppy price action likely
- Dips may still find buyers but not aggressively
- Intraday tone is softer → not a strong trending day
- Neutral with mild bearish lean intraday — buy dips only on strong confirmation
A great drop off the 6970 level yesterday so continue to run that short, and I have just taken some more profit at 9610. The bears will be looking to keep the momentum going and target 9590 and possibly as low as the S2/key fib level at 9566 today. If we do see this area then I would like to see a bounce here, especially as the S&P500 and DAX40 are still more optimistic. The FTSE100 is certainly the weakest of the bunch....
If the bears were to break lower than 9566 though, then look for a continued slide down to the 9526 S3 level and then we are nearing the bottom of the 10d Raff channel as well, sitting at the 9512 level today - though I am not feeling that pessimistic and we may well see a buy the rumour and sell the news day play out on the S&P500 ahead of the FED rate decision and follow up rhetoric at 1900 this evening. If that comes to pass then it may well help the FTSE100 rise and dip as well.
As mentioned above the bulls will be keen to to get the price back above 9635 daily pivot initially, and really is only bullish once again if they can recapture the 9660+ level where we have the R1 and 30m 200ema levels as key resistance. The 2h chart remains bearish and the second test of the Hull MA is at 9635 as well - more resistance weight here to start with....
If the bulls were to break the 9665 level then 9696 is R2 and the key fib at 9691, however if they can swing the sentiment to bullish again, they will be looking to break 9700 - 9720 is R3 - but that could be a bit of a big ask for today. Might be more likely tomorrow with a strong FED driven tailwind later.
Simple roadmap for today
- Below 9,651 → Bearish
- Below 9,591 → Very bearish (continuation phase)
- 9,635–9,651 = Sell zone
- 9,567–9,526 = Bounce zone
- Above 9,665 = Trend reversal
Good luck today.
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