Technical analysis for 3rd November 2025
FTSE100 Bias
- Daily Bias: Bullish overall, but slightly cautious near resistance.
- Key support zone: 9,690–9,710
- Resistance zone: 9,780–9,830
DAX40 Bias
- Market Bias: Neutral to Mildly Bullish
- Why: The DAX remains within a long-term up-trend, and technical indicators lean bullish or neutral.
- Caveats: Upside may be more limited unless a clear breakout occurs; macro and regional risks remain.
- Interpretation: The strategy is to buy corrective dips while trend holds. Avoid chasing aggressive moves unless supported by fresh catalyst and confirmation.
S&P500 Bias
- Market Bias: Mildly Bullish
- Why: The index continues in an upward trend; moving averages remain aligned bullishly. Technical summaries indicate positive structure.
- Caveats: Momentum is somewhat extended; resistance overhead may limit near-term upside.
- Interpretation: Buyers remain in control. Preferred posture: buy dips rather than chasing breakouts. The level to hold: key support zone. If broken, bias may shift to neutral
We are just on the key supports to start with on the FTSE100 this morning, being the daily pivot and the now green 30m coral at the 9725 area - as such we may see the bulls quick out the blocks and go for a rise towards the 9800 area. This looks like a decent shorting level though as we have both the key fib and the R2 level here. Also note that we have a bearish 2h chart following the slightly weaker Friday session, which has Hull MA resistance at 9770 today - it was this moving average that the bears appeared at when it managed 9767.
If we do get some weakness to start with and the bears were to break the 9720 level then we could see a slide as low as the S2 and key fib level at 9660 - however prior to that 9694 is S1 and the bulls will be keen to defend the 9700 level. Does feel like we may well see a bull Monday though... It's also the start of the month so we may well see some new month money start to flow in to help the bulls this morning.
Initial resistance from R1 at 9764 will need to break and if we do see the 9800 area then I expect to see a decent reaction here. Looking at the daily chart we are also just at the bottom of the 10d Raff channel as I am writing this at the 9730 level so it will be up to the bulls initially. There was an interesting ghost spike on the FTSE100 charts over the weekend too down to 9630 - so I expect we will see that level before too long.
If the bulls were to break above the 9800 level then the next daily level of note is at 9821 and R3 at 9833.
DAX40
Similar picture for the German market with the potential for a rise towards the 24120 area to start with, and a test of the 30m 200ema here. Ultimately today we may well see a rise towards the 24209 key fib level and if we were to see this I expect the bears to appear here. The 2h chart is bearish still for the DAX40 and we have the red coral at 24145 and declining, so the bulls certainly have a battle on their hands. The daily chart has also gone bearish following Fridays drop, with 25ema resistance now locked in at the 24135 level - ergo the DAX40 may well start to see some bearishness. Initial support at the daily pivot and 24000 round number, could spur the bulls into an early rise, but a break of this will likely test the 23882 key fib
S&P500
Also bearish on the longer timeframes but a rise and dip would fit the chart well, with a test of the 6900 resistance area prior to a bear Tuesday tomorrow. Again its on the daily pivot support to start with at 6846, though below this we have the 6807 key fib and S1 at 6803 - should the pivot break look for a slide to here. Provided R1 at 6879 breaks then we should see a test of the 2h resistance at at 6900 Hull AM and 6905 red coral. With those aligning with that key fib I like the look of shorts here.
Good luck today.
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