Technical analysis for 22nd January 2026
FTSE100 Bias
- Structure
- Still in a rising daily channel
- Recent rejection from R1 / channel mid
- Now hovering near daily pivot + rising trendline
- Bias
- Neutral → Bearish intraday
- Bullish medium-term (as long as channel holds)
- Buy only if price holds above 10,000–10,035 zone
S&P500 Bias
- Structure
- Sloping downward inside broader range
- Below EMA10/25
- Failed to hold pivot = weak tape
- Bias
- Bearish intraday
- Neutral swing (range market)
DAX40 Bias
- Structure
- Clean pullback from upper channel
- EMA10 & EMA25 rolling over
- RSI near 40 = bearish momentum building
- Bias
- Bearish intraday
- Neutral-medium term (trend support still intact)
FTSE100 Roadmap
- Above 10,215: Bias flips bullish → target R1/R2
- Between 10,160–10,215: Range trades only
- Below 10,117: Pullback continuation → target 10,045–10,020
FTSE100 Today’s Likely Path
- Early: Range around pivot
- Mid-session: Attempt reclaim of 10,215
- Bull case: 10,258 → 10,294
- Bear case: Drift to 10,120–10,045
All set for a potential TACO Thursday today as things settle down and traders can take stock as the Greenland "deal" brings things back from the fraught state that we were in at the start of the week. We got a good bounce from 10100 yesterday and the 10255 level remains as the key resistance level that the bulls will need to break for a push towards the 10306 daily resistance level. We also have R3 at 10316 today and there is an outside chance that we push towards these, though it will probably need the USA's help later on today.
Initially we have support at the daily pivot and a dip down to test this 10180 level to start things off today would make sense for some buying to then kick in for a push to that 10255 level. If the bears were to break below the 10180 level then I am looking at the next support level being the Hull MA on the now bullish 2h chart at 10145. Another long worth taking here if seen.
There is still a gap to close on the S&P500 at 6940 from last Friday's closing price and with R1 at 6944 I like this area for a short. We may well see a rise and dip play out today with this level being the turn point. Initially the pivot is support at 6863. We have the GDP figure out at 1330 as well which is forecasted at 4.3% which could act as the catalyst for some movement at that time.
Similar picture for the DAX40 with a dip down to the daily pivot support at the 24716 level, and a possible overshoot to test the round number. There is also the green 30m coral here to lend some weight to it, but if the bears were to push lower then look for a test of the Hull MA at 24569.
Probably going to be another interesting day so buckle up - a bit of a relief rally but equally some caution still abounds.
Good luck today.
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