Technical analysis for 17th March 2026
FTSE 100 — Neutral → slight bearish
- Structure
- Price sitting around pivot
- Inside descending corrective channel
- EMAs sloping down
- Mixed candles (indecision)
- Market lacks momentum compared to US indices.
- Bias: Range / slight sell bias
DAX — Bearish continuation
- Structure
- Price rejected from pivot / EMA zone
- Still inside a clean descending channel
- EMAs trending down
- Lower highs intact
- Yesterday’s move shows selling pressure returning after a weak bounce.
- Bias: Sell rallies
NASDAQ — Bearish
- Structure
- Price sitting below pivot
- EMAs pointing down
- Lower high printed after recent bounce
- Trendline resistance holding
- Momentum rolling back to the downside.
- Bias: Sell strength
S&P 500 — Strong bearish trend
- Structure
- Clear impulsive move lower
- Trading near channel lows
- EMAs strongly downward
- No meaningful bounce structure
- This is still trend continuation mode.
- Bias: Sell rallies
GOLD — Bearish correction
- Structure
- Below pivot
- Rejected from EMA / trendline
- Lower highs forming
- Momentum fading
- Still in short-term corrective phase.
- Bias: Sell rallies
Starting the day with bear Tuesday already playing out with the drop off the 10380 nearing the 2h support level to start with at 10296. We also have the 2h green coral at 10280, along with S1 at 10275 - as such the early sell off may well find some support here for a climb to test the R1 level at 10396, and double top nicely with yesterday's high.
We may well therefore get a rise and dip play out day, if the bulls can defend the 10280/-10300 area initially. If the S1 10275 breaks though then the bears will be aiming for the recent low at 10200 and a test of S2 at 10204. The daily chart remains bearish so on the longer time frames its still short the rallies, albeit a decent rally yesterday from the 10260 support.
If the bulls were to break above the 10400 area today though then next up is the 25ema on the daily at 10425, with the 10446 R2 above this. It would be quite a strong bounce today to get that high so probably not going to happen, but would be worth a short at 10425 if seen.
No UK centric news out, but the RBA have increased their interest rate today, which may well weigh on minds for the UK rates in the future.
The Middle East war continues apace as well with oil hovering around the $100 mark. Few rumblings of a potential rise to $200 but I doubt that - the economic damage with such a price will want to be avoided. Talking of the war, some key points:
- US President Trump said Iran wants to make a deal and is talking with their people, but he does not know if Iran is ready yet.
- US Envoy Witkoff and Iranian Foreign Minister Araghchi have reportedly been in contact over text messages in recent days; Iran denied these reports.
- US President Trump said regarding the potential Strait of Hormuz coalition that Secretary of State Rubio will announce the countries, while he added it takes a while to get to the Hormuz and that some countries are fairly local.
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!
Join my Membership for Trading Tips, Support and Resistance Levels with Live Trading
If you would like more detailed analysis for FTSE 100, DAX40, Gold and the S&P500, 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
