Technical analysis for FTSE 100 for 16th October 2025
The bulls continue to defend the 9400 level and if we get any early weakness this morning below that then it's likely to be defended again. There is good support to start with at the 9361 - 9370 area where we have S1 and the 25ema on the daily chart still, and with GDP data out at 0700 then we may well see a dip and rise play put once again. Initial resistance is at the daily pivot at 9424 along with the Hull MA on the 2h at 9414, so we could see the bears appear here early on.
Overall Market Bias
- Short-term bias: Slightly bearish to neutral
- Medium-term bias: Consolidation within the rising daily channel — testing key mid-channel support
- Current price: Around 9,400 (-0.15%)
- Pivot point: 9,427
Above the daily pivot then the R1 area at 9478 lines up nicely with the key fib at 9483 so should we push this high today then this area os worth shorting for a run back down towards the pivot at 9424. Above this then the bulls would be looking to break above the 9500 level once again with a possible test of the 9541 R2 levels long with the top of the 10d Raff channel here. That feels a slightly big ask for today and look for a more likely reaction at the 9480 level.
Support below the 9353 key fib would likely see a slide down to the 9308 S2 level but I feel that the bulls will be fighting tooth and nail to prevent this today. After all, they have tried hard to defend the 9400 level this week so any move below that is likely to be defended still. After Fridays drop the daily RSI has "reset" out of overbought which bodes well for the year end rally to start soon.
The Dax40 is also just on daily pivot resistance initially at 24181 so could also see a dip and rise play out, with a test of the S1 and key fib at 23985 area. If seen this is worth a long for a rise to potentially test the 24350 area where we have the R1 and key fib resistance as well. The daily pivot also aligns with the Hull MA on the 2h at 24177 initially hence thinking a dip and rise will be the likely scenario.
The S&P500 will be looking to build on the overnight consolidation at the daily pivot level 6668 and a rise towards the 6723 level - R1 and the key fib here and likely to see a bearish reaction. If the daily pivot breaks this morning then look for support at 6632 Hull MA, and the key fib at 6627.
Good luck today.
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