Technical analysis for 13th March 2026
FTSE 100 — Neutral → slight bearish
- Structure
- Price holding around pivot
- Inside descending corrective channel
- EMAs still pointing lower
- Recent candles showing indecision
- Market may range early before choosing direction.
- Bias: Neutral / slight sell bias
DAX — Bearish but stabilising
- Structure
- Market still inside a clear descending channel
- Price sitting around the daily pivot
- EMAs still trending down
- Recent candles showing small-bodied consolidation
- This suggests temporary pause in the downtrend, not reversal.
- Bias: Sell rallies / neutral early
NASDAQ — Short-term bearish
- Structure
- Price now below pivot
- EMAs flattening but slightly downward
- Recent candles showing lower highs
- Rejection from EMA cluster
- Momentum still weak after the recent bounce.
- Bias: Sell strength
S&P 500 — Bearish continuation
- Structure
- Strong descending channel
- Price below pivot
- EMAs clearly downward
- Lower high structure continuing
- The bounce from earlier this week failed to reverse the trend.
- Bias: Sell rallies
GOLD — Bullish trend intact
- Structure
- Price still within ascending channel
- Holding around pivot support
- EMAs trending upward overall
- Recent pullback looks like healthy correction
- Trend remains positive.
- Bias: Buy pullbacks
10250 is the line in the sand for the short term support, if the bears were to take it below the 10290 pivot this morning. We have held this lower support a few times, but the backdrop remains pretty bearish at the moment, with instability abounding! The daily chart is pretty bearish, with both Raff channels heading down and the 25ema resistance at 10445 still. It's still in short the rally mode for the moment, ad the 10340 level is strong resistance for today. Both R1 and the 30m 200ema are here.
Below 10250 then the 10227 key fib is the next level to keep an eye on, but with counter trend long trades, keep the risk light - smaller stakes and tight stops - as if the level breaks then its likely to slide further. Lower down than the bears will be aiming for the 10129 S3 level ahead of the weekend, and then we are also getting near the 10100 daily support level as well. All in all it's pretty bearish still unless we get some positive Middle East war news.
For the bulls, above the 10340 level 10396 is R2 and the round number, then 10445 25ema on the daily as mentioned though that feels a big ask for today!
As it's also Friday it's a good day to be risk off, and after a good week on the trades not a day to ruin it!
UK GDP has also just been released showing the economy stalled in January (not much of a surprise). UK gross domestic product (GDP) flatlined at 0pc during the month, according to the Office for National Statistics, following 0.1pc growth in December.
Good luck today and have a great weekend.
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