Technical analysis for 3rd September 2026
Asian equities and government bonds are rallying this morning, Treasury yields have eased from their multi-year highs, oil has pulled back, and Gold has rebounded more than 1% to around $4,435. The market is now positioning for tomorrow's crucial US nonfarm payrolls report.
Yesterday Wall Street also managed a meaningful recovery: all three major US indices finished higher, breaking a three-session losing streak.
Today is starting to look more positive already with bullish 2h charts for both he FTSE100 and the S&P500 with support at the 10735 and 7650 levels respectively. Ergo a long off these levels looks fruitful for today. Feels like a buy the dip day ahead of the NFP data tomorrow....
The FTSE100 bulls will be looking to break above the 10810 R1 level, and then that 10825 which is still not he radar. If they manage to do so then I am still looking at the 10866 level as the next key one, with 10900 above that. All things considered the FTSE100 has held up well (no doubt helped by the oil price) and looks like we may well be on for some more bullishness in the short term.
If the bears were to break the 10735 though then a slide to 10690 would be likely, and a retest of the recent low, with the 10670 S2 level below that. I don't think we will get that low as we also have key fib support at the 10694 that the bulls will likely defend.
10900 might be a big ask for today with with R3 and the round number along with 10895 daily resistance then it sleekly to be a big hurdle initially.
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