Technical analysis for 30th April 2026
FTSE 100
- Bias: Strong Bearish (clean trend)
- Perfect downtrend channel
- Continuous lower lows
- No meaningful bounce yet
- Plan
- Sell rallies:
- 10,250–10,350
- Targets:
- 10,075 → 9,980
- Sell rallies:
- Still cleanest short on the board
DAX (Germany 40)
- Bias: Strong Bearish (trend continuation)
- Clear breakdown + acceleration lower
- Multiple strong red candles
- Trading below pivot (~23,900) and below channel mid
- Plan
- Sell rallies:
- 23,900–24,050
- Targets:
- 23,550 → 23,350
- Sell rallies:
- This is now momentum downside (not range anymore)
NASDAQ (US Tech 100)
- Bias: Bearish (first real weakness)
- Lost upward momentum
- Rejection from upper channel
- Rolling over from highs
- Plan
- Sell rallies:
- 27,300–27,450
- Targets:
- 27,000 → 26,700
- Sell rallies:
- Shift from dip-buying → sell-the-rally environment
S&P 500 (US 500)
- Bias: Neutral → Slight Bearish
- Still inside uptrend channel
- But:
- Lower highs forming
- Weak close near pivot (~7,130)
- Still inside uptrend channel
- Plan
- Prefer shorts:
- 7,180–7,220
- Targets:
- 7,050 → 7,000
- Prefer shorts:
- Not as weak as DAX/NASDAQ but rolling over
GOLD (XAUUSD)
- Bias: Bearish (trend intact)
- Downtrend channel holding
- Lower highs continue
- Weak bounce = distribution
- Plan
- Sell rallies:
- 4,580–4,650
- Targets:
- 4,500 → 4,400
- Sell rallies:
- No reversal signs yet
The FTSE100 is looking to open bang on that daily support level at 10196 and as its month end we may well see a rise and dip with profit taking later, ready for a new month money kick up tomorrow. If the bears were to break below the 10195 level then I am looking at the 10140 S1 level and the key fib at 10156 below that and would like to see any test of this hold, otherwise the 10100 level is likely to get tested, and that will also weaken things considerably more.
Most timeframes are bearish now, with both the Raff channels heading down and the 2h Hull MA resistance at 10235 to start with this morning. We also have the daily pivot here, so it's possible that will be as high as the bulls manage this morning before the selling resumes, so keep an eye on this level for a reaction as well.
At midday we have the BoE rate decision, likely to be held at 3.75%. 1330 sees a cluster of US centric news, including GDP so expect some volatility then.
If it were to get really bearish then I am also looking at the S2 level of 10075 for a reaction as we have the bottom of the 10d Raff channel here.
On the upside, 10235 and then 10300 as mentioned, but above that then 10396 aligns with the 25ema resistance on the daily chart now, though that level feels a big ask for today so pretty unlikely to get that high.
A rise and dip for the S&P500 and DAX40 would also fit well but we need the bulls to be quick out the blocks this morning. I am looking at the 7175 and 24060 levels respectively on those.
Good luck today.
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