Technical analysis for FTSE 100 for 11th June 2025
A decent short entry at the 8885 level yesterday however the bears were a bit lacklustre driving it down off that. For today it looks like we may well have a similar pattern with a rise and dip. There was progress on the trade deal front which just needs head honcho sign off now, so will be interesting to see if that first iteration gets it. In a totally unsurprising turn of events the UK private sector is slowing considerably, while the public sector grows.
Initially today we have resistance at the 8865 level with the red 30m coral here, but the bulls will be looking to break above this to test that 8895 level that they failed short of yesterday. We have R1 here for today along with it remaining as the daily resistance level so should we see that then a short here is worth taking.
If they break above the 8900 level then 8924 is R2 and the top of the still rising 10d Raff channel is at 8931. Therefore a short here is also worth trying, but as per usual get the stop to breakeven asap. Higher still, and unless the news really lights the rockets under it we have the daily level at 8959 though that may be a big ask for today. I am thinking that the 8895 should get a reaction prior to both of those resistance areas though.
Support wise then the 8835 area is first up as we have the 30m 200ema here, and also another test of the green 2h coral. If the bears were to break this, and bear in mind S1 is at 8825 as well, then the 8800 level is the next one of note, with the 10d Raff channel bottom here, and also the key fib. The bulls would also be keen to defend the round number, so a bounce here would make sense. The bulls have fought hard to pull away from 8800 so unlikely to give it up too easily I feel.
On the news front the main one is at 1330 with the various USA CPI May figures out so expect some volatility then.
The Dax40 is on decent support at the 23890 level as I am writing this with the S1 and key fib both here so may well follow a similar pattern and a rise and dip. The bulls may well manage to get it all the way to the 24220 area for a test of R1 and the key fib resistance, and also the red 2h coral here as well. A drop from there would make sense.
The S&P500 dropped off again yesterday but remains above the 6000 level and again, a rise and dip may well play out here too. I am looking at the 6060 area as the main resistance as we have R1 and the key fib here and a test of that area would fit the charts well. The Raff channels are both still heading up so the momentum remains with the bulls for the moment (as it does with the FTSE100 and Dax40 also).
Good luck today.
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
