Technical analysis for FTSE 100 for 22nd August 2025
Well that was a decent bounce off the 9260 level yesterday and the bulls have managed to defend the 9300 level overnight as well. We may well see a rise and dip play out with some profit taking and position reduction ahead of the long weekend towards the close later. A rise to test the 9350 level before dropping off would fit the chart well as we have the R1 here along with it being just above the 20d Raff channel top, at 9332.
9364 is also the key fib level so there are a few key resistance levels clustered in this area and a defence from the bears here would certainly make sense. Above the 9364 level then then 9400 is the next likely target with 9411 as R3 for today. That could be a big ask ahead of the long weekend though.
For the bears then a retest of the 9260 level may well be likely today, and would be a decent double bottom, so they would be looking to break this. That would then likely see a slide down to the 9245 level where we have the ley fib and the 30m 200ema, and just above S2 at 9234. A failure of this would likely see a slide down to the 9206 daily support level though. Whilst I think we see a rise and dip I am not expecting it to get that low, but never say never!
More rhetoric is likely today following Jackson Hole, and we have Powell speaking at 1500, with Trump at 1700. There isn't any major UK centric news today.
It feels like a short the rally day today and likely profit taking, though the DAX40 has decent looking support at 24118 so a long here would be worth trying. 24100 is also the bottom of the 10d Raff channel. Initially for the DAX40 there is resistance at the 30m 200ema 24291 so the bears will be looking to pounce there. Above that the key fib resistance is at 24434 so again, a short here is worth a go, though I dont expect it to get that high. The German GDP data has just come in below forecasts at -0.3% as well.
For the S&P500, the 6400 area appears to be decent resistance with the round number and the 30m 200ema here, along with the red 2h coral. Should we see a rally to this point then a drop off from here is worth taking. Support remains at the 6350 area which has held a couple of times recently, and S1 at 6354 today. Lower down than S2 and the bottom of the 10d Raff channel is 6328 which the bulls may well try and defend if seen. Again, it looks like shorting the rally and if the bulls can break the daily pivot 6377 then that 6400 level should get tested.
Good luck today and have a great long weekend.
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