Technical analysis for FTSE 100 for 10th July 2025
Well the bulls kept the momentum going and we got 8900 once agin but after the bell yesterday. As per yesterday they will be keen to keep that going as the 9000 level comes into view once again. That said, initially we have the R2 and key fib level at 8950 so I am expecting a stutter here of any rise this morning. The reason for that is that we are just testing the top of the 20d Raff channel at the 8910 level and we also have the top of the 10d Raff at 8950.
We may see an initial drop down to test the 8670 support area which is the new Hull MA support on the 2h chart, along with S1 here. As such this is likely to hold and should then set up a decent bounce. Below that the bears will be aiming for the 8840 level where we have the 2h coral and also the 30m 200ema.
If the bears were to break below this then 8833 is S2 and the key fib, though I am not thinking that it will drop that low today. The 20d Raff channel has levelled off now, whilst the 10d Raff is still heading up, and along with a bullish 2h chart the sentiment remains bullish. On the news front we have USA Initial Jobless Claims at 1330 so could see a little bit of volatility then.
Above the 8924 R1 then 8950 as mentioned, and if the bulls were to break that then as we are so close there will likely be a concerted effort to manage 9000. The slight spanner in the works though is the R3 level at 8979. Generally it still remains buy the dip for the time being.
The S&P500 will be looking to also continue its rise and will need to defend any test of the 6244 level which is the Hull MA support on the 2h chart, and if it does then that may well set up a decent climb towards the 6290 area. Slightly lower we have the S1 and 30m 200ema around the 6230 level, and if this were to break then a further slide to 6194 S2 and the round number could play out. Resistance wise, a move up looks like it could target the 6284 R1, and we also have the key fib just above this at 6293.
For the DAX40 an initial rise towards the key fib resistance at the 24682 level looks possible, and we could see some profit taking there after yesterdays strong rise also. Higher up than R1 is 24791 so keep an eye on that for a reaction. 24700 is also the top of the 10d Raff channel for today. Support is at the daily pivot initially at 24492, then lower down stronger support at 24340 has S1 and the key fib and as such should see a bounce.
Once again it looks like the bulls will remain in charge so buy the dips, ahead of the GDP data out in the UK tomorrow morning - buy the rumour possibly already kicking in!
Good luck today
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!
Membership, 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
