CFDs are a leveraged product and can result in losses that exceed deposits. Please ensure you fully understand how CFDs work and what their risks are, and take care to manage your exposure. CFDs are a leveraged product and can result in losses that exceed deposits. Please ensure you fully understand how CFDs work and what their risks are, and take care to manage your exposure.

FTSE 100, DAX and Dow rally back towards key breakout levels

​​FTSE 100, DAX and Dow consolidate ahead of potential breakout set within wider uptrend.

FTSE 100 could start to reverse if resistance is not broken

The FTSE 100 has been trading around the 76.4% Fibonacci resistance level overnight, with the index showing signs of indecision around this key zone.

The recent support found on the 6041 swing low brings and end to the creation of higher lows, signalling the potential for this current rebound to fall short. As such, sentiment will be dictated by the ability to break throughout either 6244 (bullish) or the overnight low of 6158 (bearish).

DAX falls back into trendline support

The DAX has been consolidating overnight, with the drop into trendline support seemingly sending the index higher.

The rise back into the overnight peak signals a potential breakout coming into play, but it makes sense to await a rise through 11,942 to signal the potential beginning of another bullish surge.

Dow Jones consolidation looks likely to spark next leg higher

The Dow Jones has been in consolidation mode, with the index trading within a symmetrical triangle formation. The wider trend does still remain bullish, and thus there is a strong chance we will see the index break higher from here.

However, it makes sense to await a break through 25,514 to raise the likelihood of that bullish surge coming into play. Otherwise, a break below the 25,217 level would bring a more bearish picture into play.


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.

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