FTSE 100, DAX and Dow consolidate at key breakout levels
FTSE 100, DAX and Dow have hit key resistance, key support levels needing to break to negate the recent uptrend.
FTSE 100 rolls over from resistance once more
The FTSE 100 has once again turned lower from the 76.4% Fibonacci resistance level at 7337, with the index heading back towards the lows of yesterday.
While this could bring another higher low, we need to see a break through either 7263 or 7341 to bring about a clear directional break from this current consolidation. To the downside, watch for 7276 as the first signal that we could see this market break lower. Ultimately, we need to see price move outside this current zone of consolidation to signal whether we ae going to reverse from or break through this 76.4% Fibonacci resistance level.

DAX consolidation likely to bring another leg higher
The DAX has shifted into another sideways phase, following on from a clear uptrend throughout October thus far.
The decline into 12,827 represents a move to match the lows from Friday, which would bring a more bearish picture into play if broken. We will ultimately need to see a break through 12,828 or 12,987 to bring about clarification on the next move from here.

Dow rallies into trendline resistance
The Dow Jones has continued its ascent, with the index hitting trendline resistance originating in July.
That trendline represents the top of a wider symmetrical triangle, and thus a break through this trendline and the 27,315 level would negate the consolidation seen over recent months. Alternatively, with trendline support down below, any move lower would require that line to be broken to bring a continuation signal within this triangle formation.

This information has been prepared by IG, a trading name of IG Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.
CFDs are a leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your initial deposit, so please ensure that you fully understand the risks involved.

Seize your opportunity
Deal on the world’s stock indices today.
- Trade on rising or falling markets
- Get one-point spreads on the FTSE 100
- Unrivalled 24-hour pricing
See opportunity on an index?
Try a risk-free trade in your demo account, and see whether you’re on to something.
- Log in to your demo
- Try a risk-free trade
- See whether your hunch pays off
See opportunity on an index?
Don’t miss your chance – upgrade to a live account to take advantage.
- Get spreads from one point on the FTSE 100
- Trade more 24-hour indices than any other provider
- Analyse and deal seamlessly on smart, fast charts
See opportunity on an index?
Don’t miss your chance. Log in to take your position.
Live prices on most popular markets
- Forex
- Shares
- Indices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.