Technical analysis for 17th April 2026
FTSE 100
- Bias: Neutral (range-bound)
- Mixed candles → no clear direction
- Sitting around pivot again
- Repeated rejection + no follow-through
- Plan
- Sell highs (10,650–10,700 zone)
- Buy lows (around S1)
- Avoid middle
- Expect choppy range day
DAX40
- Bias: Bullish (but extended / late move)
- Clean trend: higher highs + higher lows
- Riding upper channel + trendline
- Holding above pivot
- Warning
- Momentum slowing (smaller candles)
- Plan
- Buy dips into 24,050–24,100 (pivot / trendline)
- Short only on clear rejection above 24,300+
- Expect push higher → risk of stall/pullback later
NASDAQ
- Bias: Bullish (strong trend, slight pause)
- Strong bullish structure intact
- Small indecision candle = consolidation, not reversal
- Still well inside rising channel
- Plan
- Buy pullbacks into pivot (~26,100–26,200)
- Continuation toward R2/R3
- Expect continuation after consolidation
S&P 500
- Bias: Bullish (grinding higher)
- Trend intact, but:
- Smaller candles → momentum slowing slightly
- Still holding above structure + pivot
- Trend intact, but:
- Plan
- Buy dips toward ~7,000 pivot
- Take profits quicker near highs
- Expect slow grind up / possible range expansion
GOLD
- Bias: Neutral → Slight Bearish
- Lower highs forming short-term
- Failing to push higher after prior rally
- Sitting around pivot / mid-range
- Plan
- Sell rallies into 4,850–4,900
- Buy only at deeper support (S2/S3)
- Expect range with downside pressure
Key Theme Today
- US still leading → buy dips
- DAX strong but late (be cautious chasing)
- FTSE stuck in range
- Gold losing momentum
Best plays:
- Buy NASDAQ / S&P dips
- Selective DAX longs (not at highs)
- Range trade FTSE
- Fade Gold rallies
The bulls continue to hang in there though aren't particularly strong on the FTSE100 at the moment as we hover around the 10600 level. The S&P500 has been more optimistic and has had a decent move up from the 7000 area which now bodes well for a rise towards the 7085 area. That should in theory help the FTSE100 which has been the strongest market recently its lost its way a bit recently.
However if the bulls can defend the daily pivot and 10590 area then we should see some upside today towards the 10690 area and a test of R2. They will of course be looking to break above 10700 as that then lines up a potential push up towards the 10800 area, though might have to wait till Monday for that, unless there is some pessimistic news today!
Starmer continues to hang on as Labour continue to firefight on a daily basis as more ineptitude/scandal/incompetence comes to light each day! How will turbulent politics affect the FTSE100...... it's probably waiting till the result of the May elections and how much of a mauling Labour are going to get. Wales and Scotland are polling significant gains for Plaid Cymru and the SNP respectively, the latter now talking about another referendum to break up the Union.....
Anyway, back to the numbers and if the bears were to break below the 30m 200ema then we may well slide as low as the 10528 key fib level and possibly S2 at 10498. That said the 2h chart is bullish to start with this morning and has Hull MA support at the 10588 level, and given that it has held up well overnight I would like to see this area hold and a test of the 10680 area.
No major market news slated for the UK today but as its Friday it can be worth being a bit more cautious. A rise and dip ahead of the weekend looks distinctly possible.
Good luck today and have a great weekend.
Interested in how to start trading the FTSE 100? Frequently Asked Questions on Spread betting
Recommended Broker for trading - MT4/5, web and mobile
IC Markets - offers market leading pricing and trading conditions by providing clients with True ECN Connectivity; this allows you to trade on institutional grade liquidity from the world’s leading investment banks, hedge funds and dark pool liquidity execution venues. Highly recommended!
Join my Membership for Trading Tips, Support and Resistance Levels with Live Trading
If you would like more detailed analysis for FTSE 100, DAX40, Gold and the S&P500, including the trades that I am looking to take myself, then please join my active members community.
Keep up to date with new website posts, free sign up below
