Technical analysis for FTSE 100 for 9th June 2025
We could well be on for a decent bull Monday today, especially if the trad talks between USA and China progress well. The bulls have managed to hold the price above the 8800 level and now the next hurdle is to jump the 8888 level - the area where we have the key fib and the R2 to act as main resistance today. Of course the ultimate target remains the 8900 level but I do think that we may well see some resistance around this area on the first main test.
The Raff channels continue to head upwards and buying the dip is still the the preferred play for me, with 8800 now becoming the decent support level. We have S1 and the 30m 200ema here for today, if the bears were to break below the daily pivot level at 8831 initially.
Below the 8805 then S2 and the key fib are both at 8766 so keep an eye on this for support if the bears do step up today.
The first hurdle is also R1 at 8865 but if the US puts in a decent bullish shift then we may well follow suit and the bulls will see this as their chance to aim for the 8900 level.
There's no real UK centric news until Thursday when the GDP figures come out so the bulls will certainly be looking to build on that void in any negative news flow for the moment and ahead of the summer selling season.
For the S&P500 today then it looks like a rise towards the 6035 level may well materialise, if the bulls can defend the daily pivot level initially at 5985. The 2h chart is bullish now also with Hull MA support here, so it would be good to see this hold, and that in turn will help the FTSE100 put in a bullish session. Below the daily pivot then the next main support is the 5955 area where we have S1 and the 30m 200ema. Resistance wise, above 6035 then 6066 is R2 but that may be a bit of a big ask today - but you never know - something positive leaked from the trade talks and off it would go.
The Dax40 also looks like a potential rise but is generally looking a bit weaker overall - the daily Raff channels are heading up still but the 2h chart is bearish now with 24345 resistance from the Hull MA... but it does have a green coral at 24255 as support. We are just on this as I write this missive, but below this then the S1 and 30m 200ema are at the 24230 level so we could see a test of this to start with. If the bulls defend this then a rise towards R1 at 24378 would fit the chart well.
Good luck today.
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