Technical analysis for FTSE 100 for 6th June 2025
It will be all about NFP today, released at 1330, with a forecasted dip to 126k from 177k previously. As such we could well see a buy the rumour, sell the news day play out initially, especially as the FTSE100 is back below 8800 and we now have e the 2h Hull MA as resistance at 8811. The S&P500 has recovered a bit from the 5920 low last night as the Elon-Donald bromance comes to an end, but we have a bearish 2h chart on that as well now with the Hull MA resistance at 5978.
Above the 8811 level then the recent high at 8840 is next up as daily resistance, and just above the R1 level 8833 and if the bulls were able to break that then they are still aiming for a test of the 8900 level. If we get a decent NFP release then it may well help them to pull away from the 8800 level. 8780 held as support yesterday as well though once again the range is coiling and we will get a breakout soon.
Support wise to start with the 8795 area with the 30m 200ema here is first up, and then 8771 S1 below that. It feels like we may well see a slide down as far as the 8745 area though today, where we have S2 and the key fib, and that may well play out this morning if the 8811 resistance level holds as early resistance.
Below the 8740 level then 8710 is S3 though I am not expecting it to get that low today. The daily Raff channels continue to head up as well and we have the bottom of the 20d Raff at 8730 today. The bulls however will be fighting tooth and nail to keep the price around the 8800 level and ideally pull away ahead of the weekend. Some profit taking at the end of the session may well also materialise.
For the Dax40 it also looks like a rise and dip, with the 24440 area being decent resistance if the bulls can break above the daily pivot at the 24309 level. A drop off from this possibly as low as the S1 and key fib at 24127 would set up a decent range for today though note that we also have the green 2h coral at 24200 to start with today as well. The Dax40 2h chart is more optimistic than the FTSE100 and S&P500, both of which have gone bearish.
The S&P500 bulls will be looking to break the 5977 level to target the 5995 area where we have R1 and the key fib as main resistance. Of course a lot of todays movements will depend upon NFP. Support is at 5920 again being the double bottom level, and then S1 5905 below that.
As its NFP Friday it can pay to be a bit more cautious so stay nimble and can always do lower stakes.
Good luck today and have a great weekend.
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