Technical analysis for FTSE 100 for 11th July 2025
Taken its time but it's now tantalisingly close to testing 9000 and we may well see a concerted effort for that today, with the 9021 level as resistance above that as we have the R1 and key fib here. Just released we have seen UK GDP fell 0.1% in May 2025 but grow 0.5% in the three months to May. That may well help the bulls to start with as it could have been worse!
Initially the bulls will be looking to defend the daily pivot at the 8957 level, and we are almost at this as I am writing this. If they manage that then it should play out with a rise and dip day and some profit taking later ahead of the weekend.
Below the daily pivot then it could slide as far at 8901 as we then have the key fib and the 30m 200ema there, along with the green 2h coral line. As such this area should hold any test and the bulls will certainly be trying hard to keep the bullish momentum going. Despite Trump's best efforts to keep throwing tariff news at them! We do have the top of the 20d Raff channel at 8996 to start with too, and it may well get a reaction but it would be a shame to not see the 9000/9020 at least get tested and rebuffed if for no other reason than to generate some decent positive headlines!
Resistance wise, then above the 9020 level 9056 is R2 and then the next daily level at 9072 above that. I am not sure the bulls will have the strength to get that high today as it's a Friday and some profit taking later is likely. The S&P500 also needs to defend 6250 today if the bulls are going to get any help.
For the S&P500, if the 6250 can be defended then a rise towards the 6300 area for a test of R1 may well play out, and then we could see the round number generate some bearish action. Again, some profit taking ahead of the weekend is possible. Higher up than 6320 is R2, and the Raff channels both continue to head upwards. Below 6250 then 6225 is S2 and just above the bottom of the 10d Raff channel at 6220, so this area "should" see a bounce if tested. Generally though a rise and dip looks like it will be today's pattern.
The DAX40 meanwhile looks more bearish on the shorter time frames and in fact the 2h Hull MA is firmly so, with resistance at the 24600 level. As such should this level be seen then a bearish reaction here is likely. Prior to that then the 24513 daily pivot is resistance. Support wise, the overnight hold of the S2 level at 24297 ties in with the 30m 200ema at 24307 and we could see a bounce off that this morning. The daily is more optimistic with the Raff channels heading upwards still. If the bears take control further then S3 at 24166 is the lower support level of note.
Good luck today and have a great weekend.
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