Technical analysis for 10th November 2025
FTSE100 Bias
- Short-term bias: Cautiously bullish above 9,709
- Key intraday range: 9,700 – 9,800
- Watch levels: 9,768 (R1) → break unlocks upside; 9,700 (pivot) → break warns of pullback.
- Overall, expect early consolidation around the pivot, with momentum buyers active above 9,770. The broader channel remains supportive, keeping the path of least resistance upward for now.
S&P500 Bias
- Bias: Bullish with a hint of consolidation
- Why:
- The S&P 500 remains in an uptrend with bullish alignment on major moving averages.
- Technical indicators show short-term and long-term trend signals remain positive.
- However, momentum is somewhat extended, suggesting the probability of a pause or sideways consolidationahead.
- Interpretation:
- Prefer buying dips rather than chasing breakouts.
- Key support zones are vital — a break below these would weaken the bias.
- A clear breakout above resistance would reinforce upside potential.
DAX40 Bias
- Bias: Neutral-to-Mildly Bullish
- Why:
- The DAX remains within a longer-term bullish trend according to multiple technical platforms.
- Trading summaries indicate that while the underlying trend is positive, near-term resistance and momentum constraints warrant caution.
- Interpretation:
- Strategy: buy corrective dips while the trend stays intact.
- Aggressive breakout chasing less preferred without confirmation.
- If price breaks key support levels, the bullish bias should be reassessed
The bounce from the 9640 support level on Friday has continued into today and the bulls will be boosted by this and aiming now for 9800. Initially though we may well see a small drop back as we are just on R1 to start with at 9768, and a potential test of the 9721 200ema would fit the chart well. We also have the 2h Hull MA here so I would like to see this hold, otherwise the next key support to be tested is at the 9700 area where we have the daily pivot and the green 30m coral.
Lower down then 9662 key fib and a retest of the 9640 level would be the ones to look for, though with a Bull Monday in the offing, I am more inclined to go with the higher supports holding and a test of the 9800 area. The FTSE100 is powering ahead well still in Q4, even while the government are trying to destroy the UK economy. The reason being the FTSE100 is international so a bit more immune to Labour's efforts to cripple UK businesses.
If the bulls were to break above the 9800 level today then look for a test of the 9833 daily resistance level and I feel that the bears will appear here in anticipation of bear Tuesday tomorrow. It's also a decent profit taking point for the bounce from 9640.
S&P500
Similar picture here with buying the dip the favoured play for today, and a drop down to the 6730 area to test the 30m EMA support would fit well, as we also have the 2h Hull MA support at 6714. 6740 is also the gap close level, so it could in theory only drop back as low as this before the bulls attempt to drive it up towards the 6821 level and a test of R2 - if the R1 level and key fib were to break. The key fib at 6791 is worth keeping an eye on initially. Below the pivot then S1 at 6665 is the next main support but given its looking like a bull Monday, again I expect the higher supports to hold.
DAX40
Again, a bull Monday with a rise to test the key fib resistance at the 24012 level today looks likely. Initially R1 at 23934 may well see a drop off to test the daily pivot level at 23693 and buying the dip is still the preference for today. Above the 24012 level then 24079 is R2 and likely to get tested on a break, as we also have the top of the 10d Raff channel here. Below the daily pivot then 23650 is the key fib support and also the green 30m coral so I would like to see that hold, otherwise S1 at 23547 is the next level of note.
Good luck today.
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