Technical analysis for FTSE 100 for 12th June 2025
Once again the 8885 level has held as resistance along with a decent drop off on the S&P500 from the 6065 level. Am all out of that short now. For today we may well see a similar pattern to yesterday but also a bit of caution so a drop from a lower level, in this case the daily pivot and 30m coral at 8857. The 2h chart has also gone bearish with 8867 as Hull MA resistance to add a bit of weight to this area as decent resistance.
The Raff channels continue to head upwards and the bulls are managing to keep the price above the 8800 level for the moment so should we see a drop down to the 8810 level today then I would like to see a bounce here as we have S2 and also the bottom of the 10d Raff here.
Initial support prior to that is at the S1 level at the 8830 so we may well see an initial bounce as we are just sat on this level as I am writing this. However, below the 8809 level then the bears will of course be trying to break 8800 and would look for S3 at 8781. That said, I have a feeling that the bulls will be on the defensive today and will fight to keep the price above 8800.
The magic money tree in the UK continues to provide following the spending review yesterday, despite April GDP just being released this morning showing further contraction of -0.3%, and April manufacturing production contracting to -0.9%. Autumn budget will be interesting with yet more tax rises. Keep squeezing till the pips squeak!
Talking of news, at 1330 in the USA we have the initial jobless claims so expect some chop then. Forecast is 242k, down slight from the 247k previously.
If the bulls were to break above the 8860 level today though then the recent high is the next level and we still have 8895 as daily resistance. 8912 is also the key fib just above this and R2 at 8906 so this area would be worth a short if seen.
The S&P500 may be a bit more cautious again today and a rise and dip looks possible again, with resistance at 6038 from the Hull MA. Above this then yesterdays high at 6070 is next up, with R2 6096 above that. Support wise then the bulls will be trying to defend 6000, so any drop below that to test the 5987 S1 level will likely see a bounce.
Similar pattern for the Dax40, which is just on key fib support first thing at 23777. A climb from here to test the daily pivot at 23950 before a drop back down to S1 and the bottom of the 10d Raff channel at the 23723 level would fit well. Above the pivot then the 24096 key fib is next up as we also have the red 2h coral here. Below S1 then 23604 S2 is the next key level to keep an eye on.
Good luck today.
Interested in how to start trading the FTSE 100? Frequently Asked Questions on Spread betting
Recommended Broker for trading - MT4/5, web and mobile
IC Markets - offers market leading pricing and trading conditions by providing clients with True ECN Connectivity; this allows you to trade on institutional grade liquidity from the world’s leading investment banks, hedge funds and dark pool liquidity execution venues. Highly recommended!
Membership, Trading Tips, Support and Resistance Levels with Live Trading
If you would like more detailed analysis for FTSE 100, DAX, Gold and S&P, including the trades that I am looking to take myself, then please join my active members community.
Keep up to date with new website posts, free sign up below
Day trading for beginners - Join today and get:
- Daily detailed analysis before the market opens
- Detailed trade plans for the FTSE100, S&P500, Dax40 and Gold
- Email updates during the day
- Live trading room open all day
- Telegram chat room groups
- Help and support
Membership is £59.99 a month. My results spreadsheet in Excel can be viewed here
