Technical analysis for FTSE 100 for 14th February 2025
Quite the drop yesterday as the FTSE100 took fright, however it found support at the 8740 area and that has acted as a bit of a springboard coming into this morning. As such we may well see a rise and dip play out today, with a potential test of the 8810 level where we have the 2h Hull MA and coral lines. If the bulls can break the daily pivot at the 8775 level initially!
Above 8810 then the R1 level of 8821 along with daily resistance also here, is close by, but further upside would target the 8867 level. Feels a big ask for a Friday to push up to that though.
Things seem to be progressing from Trump on ending the Ukraine war, however, there is an undercurrent of "why" and various vested interests wanting it to continue and not to acquiesce anything at all. Soaking up billions of dollars/euros, population upheaval, destruction seemingly preferable to some.... It's all about making the deal at the end of the day. Start by asking for everything you want then drop back from there....
Support wise today then the opening level at 8760 is the starting support and we may well see a spring up from here to start with. However, if the bears break below this then a slide down to the 8710 area to test S1 and the key fib is likely. 8720 is also the bottom of the still ascending 10d Raff channel, as well as just below the first daily support level 8730. As such I would like to see any test of this hold today.
If the bears were to break below the 8700 level then 8679 and 8668 are the next levels to keep an eye on.
Just US retail sales data out at 1330 today so will be interesting to see if spending has also slowed in the US - expect some volatility then.
For the S&P500 the bulls fought back back yesterday with a nearly 100 point rise from the 6037 low, which has continued overnight. As such that has a bullish 2h chart and is still in buy the dip mode. Support is at 6088 and then 6070 below that. Again, it would be good to see this hold if tested and a bullish end to the week, though we may see some profit taking later on.
Likewise for the DAX40, and a defence of the daily pivot at 22478 to start with should see a rise towards the 22650 level, IF the bulls can break the 2h resistance at 22537 initially. 22335 is decent support for today.
Good luck today and have a great weekend.
Interested in how to start trading the FTSE 100? Frequently Asked Questions on Spread betting
Recommended Broker for trading - MT4/5, web and mobile
IC Markets - offers market leading pricing and trading conditions by providing clients with True ECN Connectivity; this allows you to trade on institutional grade liquidity from the world’s leading investment banks, hedge funds and dark pool liquidity execution venues. Highly recommended!
Membership, Trading Tips, Support and Resistance Levels with Live Trading
If you would like more detailed analysis for FTSE 100, DAX, Gold and S&P, including the trades that I am looking to take myself, then please join my active members community.
Keep up to date with new website posts, free sign up below
