Technical analysis for 18th June 2026
The overall picture today is more cautious than yesterday.
- Nasdaq and S&P remain structurally bullish but are stalling near resistance.
- DAX is consolidating and neutral.
- FTSE remains the strongest European index.
- Gold has shifted back to bullish after reclaiming the pivot area.
FTSE 100
- Bias: Bullish
- Strong rising channel remains intact.
- Trading comfortably above both EMAs.
- RSI around 56 and healthy.
- Price respecting higher lows.
- Key Levels
- Resistance:
- 10,515 (R1)
- 10,565 (R2)
- 10,622 (R3)
- Support:
- 10,412 (S1)
- 10,351 (S2)
- Resistance:
- Trading View
- Buy dips while above 10,410.
- Break of 10,515 opens 10,565 and potentially 10,595.
DAX 40
- Bias: Neutral / Slight Bullish
- Price sitting almost exactly on the daily pivot (24,884).
- EMA25 still rising above EMA200.
- Trading inside a tightening rising channel.
- Several small-bodied candles showing indecision.
- Key Levels
- Resistance:
- 25,007 (R1)
- 25,115 (R2)
- 25,238 (R3)
- Support:
- 24,776 (S1)
- 24,653 (S2)
- Resistance:
- Trading View
- Above 24,900 → buyers likely challenge 25,000–25,100.
- Below 24,775 → pullback risk toward 24,650.
Nasdaq 100
- Bias: Bullish
- Trend remains firmly upward.
- EMA25 rising sharply.
- Pullback candles after the recent breakout look corrective rather than bearish.
- Price remains above major support around 29,850.
- Key Levels
- Resistance:
- 30,363 (R1)
- 30,631 (R2)
- 31,009 (R3)
- Support:
- 29,716 (S1)
- 29,338 (S2)
- Resistance:
- Trading View
- Buy dips above 29,850.
- A break above 30,360 would likely trigger another momentum leg higher.
S&P 500
- Bias: Bullish
- Strong trend intact.
- Price holding above EMA25.
- Recent candles are small, suggesting consolidation after the rally.
- Momentum still favours buyers.
- Key Levels
- Resistance:
- 7,550
- 7,615
- 7,690
- Support:
- 7,414
- 7,335
- Resistance:
- Trading View
- Above pivot (7,470) keeps buyers in control.
- Dips into 7,440–7,470 should attract buying.
Gold
- Bias: Bullish
- Strong recovery from the 4,050 low.
- Back above pivot.
- Holding above EMA25.
- Buyers defending pullbacks.
- Key Levels
- Resistance:
- 4,360 (R1)
- 4,453 (R2)
- 4,524 (R3)
- Support:
- 4,197 (S1)
- 4,126 (S2)
- Resistance:
- Trading View
- Above 4,290 keeps momentum positive.
- Break above 4,360 could accelerate toward 4,450.
Setups Today
- Strongest Long
- Nasdaq 100
- Entry zone: 29,950–30,050
- Targets: 30,360 → 30,630
- Nasdaq 100
- Secondary Long
- FTSE 100
- Above 10,410
- Targets: 10,515 → 10,565
- FTSE 100
- Momentum Long
- Gold
- Above 4,290
- Targets: 4,360 → 4,450
- Gold
- Wait-and-See
- DAX
- Needs a decisive break of 25,000 before becoming strongly bullish.
- DAX
Overall Market View
The dominant daily theme remains risk-on, with U.S. equities still leading. The FTSE continues to trend higher, Gold has improved materially, and the DAX is lagging slightly as it consolidates beneath the 25,000 area. If U.S. futures stay firm, I would expect the best opportunities today to remain on the long side rather than looking for shorts however there are some key resistance levels still in play, namely the 10595 on the FTSE100.
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