Technical analysis for FTSE 100 for 18th June 2025
The FTSE100 has been pretty resilient and looks to be gearing up for another test of the 8900 level and a potential break higher. The longer term time frames show 9300 as a possible destination! Today it will be focussed on the Fed (and the wars!) while UK CPI YoY has just shown a slight drop to 3.4% from 3.5% previously. The Fed isn't till 7pm, while we have Initial Jobless Claims at 1330 so expect volatility at these times. I doubt that we will see an interest rate change from the Fed today. September still looks likely for the next UK cut while we are on the subject!
For today I am thinking that we may well be more bullish and I am looking at the daily pivot level of 8833 to hold initially. The bulls will be keen to defend any drops, and certainly if it were to get near 8800 again they will likely try and get a bounce there, especially as 8803 is S1 and the bottom of the still rising 10d Raff channel.
Below 8800 then the 8772 key fib aligns with the S2 level, while 8760 remains as daily support so a long around this zone would be worth a go should it be seen.
Above the 8890 level which is R2 and the key fib, then the 8903 recent high is likely, but the bulls will be keen to push on and break above the 8916 R3 level today. That is also the top of the 10d Raff channel so a breakout above this keeps 9000 in play ion the short term. Wars being good for markets proving true once again.....
Looks a similar picture for the DAX40 with the daily pivot as initial support and a rise towards the 23487 key fib likely this morning. The bulls will be keen to defend as a break of the pivot will likely lead to a test of the lower key fib support at the 23166 level. Above the 23490 level then the 30m 200ema at 23555 is the next level of note, with the R2 23680 higher still.
The S&P500 will be focussed on the Fed of course, and we may well see a buy the rumour sell the news day play out, and a rise towards the 6027 key fib level. Daily pivot at 5983 is initial support and as long as this holds then the bulls should be able to break above the 6000 level today. If not then a slide down to S1 and the key fib at the 5940 area is likely. Above the 6027 level then the 6044 R2 is next up.
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, DAX, Gold and S&P, 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
