Technical analysis for FTSE 100 for 25th March 2025
Yesterday's rise faltered just shy of the 8700 level and having dropped back to the double bottom at 8610, the bulls will be keen to defend this. A move lower will likely manage the 8580 support level next, where we have daily support, along with the 8588 key fib. Once again I am thinking that we will get a rise and dip today, as the daily chart has gone bearish again, and the 25ema resistance is at the 8664 level. 8661 is also the 30m 200ema, so there are a few key levels here, which may well therefore see a reaction.
If the bulls were to break above the 8670 level though, then we have the 8690 2h coral line, with R1 also here. A move even higher will then likely double top with the recent high at 8740 though the bulls will be aiming for the 8800 level if they can really start motoring - not expecting that today though!
Support wise, then the 8610 is first up and we are just sitting on this first thing - so an initial rise from here makes sense. If the bears were to break below the 8580 level though then we will certainly see things get more pessimistic and as this is also a break below the 10d Raff channel (support from that is at 8615 currently) it certainly puts the bears in charge.
Not much on the news front today so that may well help the bulls initially to push it higher as nothing to upset the apple cart... The US being strong may well feed through initially too but bear in mind we could get a surprise tariff grenade lobbed in at any point!
For the S&P500 we may well see a rise and dip too, with a test of the 5788 level where we have the key fib and the R1 level. 5775 is the 25ema as well for today as well as the top if the 20d Raff channel so a rise to this area and then a drop back would fit well.
The Dax40 looks like it wants to defend the 22800 level initially, and if the bulls were to go for it today then we could see a rise towards the 23080 level to test the key fib and R1 on this as well. If the bears appear here then a dip right back down to 22800 may well play out. Both the Raff channels on the Dax40 are heading up, but the 2h chart is bearish with the red coral at the 23040 level for today. Initially the bulls need to break above the Hull MA at 22887 though so keep an eye on that.
Good luck today.
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