Technical analysis for 2nd April 2026
FTSE 100 — Neutral → Bearish shift
- What changed
- Strong run → now sharp rejection candle
- Sitting back near pivot
- Momentum turning
- Read: FTSE strength fading
- Bias:
- Below pivot → Sell rallies
- Above pivot → neutral
DAX — Bearish continuation (rejection confirmed)
- What changed
- Strong bearish engulfing after rally
- Clear rejection from pivot / EMA resistance
- Back below key levels
- Downtrend intact
- Read: That bounce has failed → trend resuming
- Bias:Sell rallies / momentum shorts
NASDAQ — Bearish (rollover confirmed)
- What changed
- Failed bounce → small bearish follow-through
- Still below pivot + EMAs
- Lower high locked in
- Read: Weakest structure still
- Bias: Sell rallies
S&P 500 — Bearish continuation
- What changed
- Strong bounce yesterday → now stalling / rolling over
- Still under resistance cluster
- No structural break
- Bias: Sell rallies
GOLD — Bearish reversal (key shift today)
- What changed
- Large bearish engulfing candle
- Rejection from resistance / upper channel
- Break of short-term bullish structure
- Read: This is a clear momentum flip
- Bias: Sell rallies
The last day of the shortened week and we are seeing a big gap down following Trump's speech yesterday. The US markets never like a gap down so we may well see a rise and dip play out on them today, which in turn will see the same for the FTSE100. Initially we may get a dip down to the S2 and 30m 200ema level at 10200 and we also have daily support at 10190 so I would like to see any test of this level hold to set up a bounce toward the 10300 level and a back test of S1.
If we break below that area either today or next week (and don't forget no trading Monday in the UK) then the 10108 level is next up.
Back to the upside, and if we were to break the 10300 level then I am looking at the 10400 area for a test of the 30m coral and daily resistance here. Decent shorting opportunity here as well if seen.
Whilst we are starting on the back foot it might not be so bad today and a rise may well play out - the various 2h charts are still bullish, albeit below the 10310 Hull MA support for the FTSE100 to start with.
The S&P500 Hull MA support is at 6473 though so keep an eye on this level for a bounce, and then the S1 level at 6457 below that.
The 10d Raff channel continues to head upwards, albeit being pretty wide and the price is still above the daily 25ema at 10236 for the moment. So all is not lost just yet for the bulls.
Long weekend with no trading tomorrow or Monday so next email on Tuesday. Have a great long 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!
Join my Membership for Trading Tips, Support and Resistance Levels with Live Trading
If you would like more detailed analysis for FTSE 100, DAX40, Gold and the S&P500, 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
