Technical analysis for FTSE 100 for 27th June 2025
Some optimism crept back in yesterday as the bulls fought back from 8700 and they will be aiming to try and build on that today. However we have initial resistance at the 8780 level with R1 here so we could see a drop off from there and a retest of the 8720 area where we have S1 and the Hull MA support on the 2h chart.
Initially it looks positive with a green 30m coral and the 8750 level holding as support overnight, and the bulls will be keen to keep that intact initially. If the bears were to break below the 8716 level then 8700 round number is next up and then a possible move down towards the 8671 S2 level and just below the key fib 8686. That said I am more inclined to go with the 8720 area holding, especially as the 2h Hull MA is here.
For the bulls, above the 8785 level then 8809 R2 and 8800 key fib is the next zone of resistance that looks like it would get a reaction with daily resistance just above that at 8820. The bulls would of course be looking to break and hold above 8800 ahead of the weekend.
Looking at the daily chart and whilst the Raff channels are heading down, the first test of the green coral at 8700 yesterday has held which bodes well and we may well see an early summer push back up from here towards the 9000 area during July. The key will be the bulls keeping the EMAs on the daily chart positive, and getting the price back above the 8766 level and holding.
The S&P500 continues to push on well and is aiming for the 6175 area today to start with, where we have the R1 and key fib level. Above this the 6196 R2 and top of the 20d Raff channel is the next level of note and if tested would likely see some profit taking ahead of the weekend. Support wise, the daily pivot at 6131 is worth keeping an eye on though a break of that will likely then see a slide down to the 6108 S1 level.
Its a similar picture for the DAX40, with the initial resistance area from R1 and the key fib at 23855 and as such an early test of this level could then see a drop down to the daily pivot on this too. That is 23670 and also links in with the 30m coral and just below the Hull MA support on the 2h at 23725. Lower down then the key fib at 23521 but it may not slide that far today and we will see the pivot hold as support. The bulls will be keen to keep the momentum going on this as well and we are also just breaking above the 20d Raff channel top as I write this which bodes well for some more strength over the next few sessions.
Good luck today and have a great weekend.
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