Technical analysis for 6th March 2026
FTSE 100 — Bearish correction but stabilising
- Structure
- Broke rising trend channel earlier this week
- Price now trying to base near pivot
- EMAs rolling over
- Still technically in a correction.
- Bias: Sell rallies
- Unless price reclaims R1 and channel midline.
DAX — Bearish trend with small bounce
- Structure
- Still in a descending channel
- Lower highs and lower lows intact
- Price sitting around pivot
- EMAs still pointing down
- The small green candle is a relief bounce, not a structural reversal.
- Bias: Sell rallies
- Upside likely capped near R1 / EMA zone.
S&P 500 — Range → slight bearish
- Structure
- Price hovering around pivot
- EMAs flat/down
- Still inside descending channel
- Momentum has slowed but trend has not flipped.
- Bias: Range with slight sell bias
- Sell if price rejects R1 / EMA cluster.
GOLD — Bullish recovery
- Structure
- Uptrend channel intact
- Strong bounce from EMA support
- Price reclaiming pivot
- Momentum is turning back up.
- Bias: Buy pullbacks
The market is still technically inside the larger bullish channel, but the recent behaviour shows a clear correction phase.
Recent sequence:
- Sharp selloff on March 3
- Weak follow-through selling
- Now a small rebound candle forming
Price is currently:
- Below R1
- Near the pivot
- Still inside the lower half of the channel
This suggests the market is trying to stabilise after the correction.
Overnight the 10350 level has seen a decent bullish reaction so that remains the key lower support for now, following yesterdays move below 10500. We have NFP out today at 1330 (almost a footnote given the ongoing news) with a forecasted drop to 59k. For today I am thinking that we may well see the bulls try and fight back a bit and for the FTSE100 a push towards the 10535 initial resistance. If they were to break above this then ultimately I am thinking that we may well see 10650 once again. Maybe not today ahead of the weekend but keep it on the radar.
10526 is the key fib resistance as well and splits those 2 daily levels, and the bulls will be keen to try and hold above the 10500 level to end the week.
Support wise, if the bears do zoom out the blocks then 10369 is the key fib first support, 10350 overnight low and then S1 at 10288. That said, we may well see some buy the rumour sell the news try and play out ahead of NFP news. The S&P500 looks fairly positive to start with and the 30m chart favours a climb towards 6900 and a test of 6895 R1. The 2h coral has finally gone green as well to show a bullish trend bias, and we have bullish Hull MA's - the ball is in the bulls court really to try and push on today.
The FTSE100 has Hull MA resistance at the 10450 level sp the bulls will be looking to hold this level and build on the overnight rise, with the 10500 level looking key for the moment - a decent hold above this over the course of today and we may well see some continued upside next week as well, with the bulls ultimately looking at the 10930+ level again. A lot will depend on the Iran situation as well obviously and energy prices/shipping costs/inflationary pressures over the next few weeks.
It also looks a bit more positive for the DAX40 and the bulls could push on towards the 24120 level initially. The 2h chart here is also bullish to start with, and has Hull MA support at 23725. The daily candles have also got quite long tails showing the buying pressure, and the bulls will be looking for a rise to test the 25ema on the daily at 24690 soon.
Good luck today and have a great weekend.
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