Technical analysis for 29th May 2026
FTSE 100
- Bias: Neutral to Slightly Bullish
- Why:
- Yesterday's weakness has stabilised.
- Green candle forming around the pivot.
- Still lagging US markets.
- Not showing the same momentum as Nasdaq or S&P.
- Why:
- Key levels:
- Support: 10,411 → 10,366
- Resistance: 10,475 → 10,537 → 10,584
- Trade plan:
- Range-to-higher bias.
- Needs a break above 10,475 for stronger bullish conviction.
DAX40
- Bias: Bullish
- Why:
- Strong recovery candle after the 28 May selloff.
- Holding above the rising 25 EMA and trend support.
- Trading back above the daily pivot.
- Higher-low structure remains intact.
- Why:
- Key levels:
- Support: 25,089 → 24,931
- Resistance: 25,266 → 25,424 → 25,601
- Trade plan:
- Buy pullbacks above 25,090.
- Break above 25,266 opens the way toward 25,424.
Nasdaq 100
- Bias: Strong Bullish
- Why:
- Fresh highs within the rising channel.
- Strong sequence of higher highs and higher lows.
- Trading comfortably above the pivot and rising EMA.
- Buyers continue defending every dip.
- Why:
- Key levels:
- Support: 30,054 → 29,824
- Resistance: 30,417 → 30,647 → 31,010
- Trade plan:
- Buy dips into 30,050–30,100.
- Continuation target toward 30,650–31,000.
S&P 500
- Bias: Bullish
- Why:
- Strong green continuation candle.
- Holding above trend support and pivot.
- Momentum improving again after brief consolidation.
- Trend structure remains clean.
- Why:
- Key levels:
- Support: 7,544 → 7,510
- Resistance: 7,599 → 7,632 → 7,687
- Trade plan:
- Buy pullbacks.
- Preferred long while above 7,510.
Gold
- Bias: Neutral / Bearish Rallies
- Why:
- Still inside a falling channel.
- Trading below declining EMAs.
- Small bounce but no trend reversal yet.
- Current move looks corrective rather than impulsive.
- Why:
- Key levels:
- Resistance: 4,550 → 4,608 → 4,699
- Support: 4,400 → 4,308
- Trade plan:
- Sell rallies into resistance.
- Only become bullish above 4,600+ and channel breakout.
Today's Ranking
- Strongest Longs
- Nasdaq 100
- S&P 500
- DAX
- Neutral
- FTSE 100
- Strongest Short
- Gold
Overall Market View
Today's charts suggest a return to risk-on conditions. US indices remain the leaders, DAX has recovered its bullish structure, FTSE is improving but lagging, while Gold remains the weakest market and still looks vulnerable to further downside if equity strength continues.
Once again the Middle East news is the primary driver with some positives coming out overnight and in turn helping drive stocks higher. As such we are back to risk on, as traders will look to capitalise on that and go for a decent end to the month. We are just above the 10428 pivot to start with so initial support here, with the 10407 30m coral below that, and the bulls will likely be looking to defend any drop down towards the 10400 round number.
If it were to overshoot that then 10377 is the next main support level to look for a bounce from, worth a long here too.
If the bulls were to push on then 10493 key fib is the initial resistance zone, with a possible push towards the 10520 area if they break higher. Obviously they will be looking to close the month above 10500 if possible, and above 10520 then there is a potential for a test of 10580 soon. Might be next week though with the bull Monday and new month money flowing in.
The Fear/Greed index is still in the "greed" phase so there is potential for further upside in June.
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