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 and DAX break key resistance as market surge continues

The FTSE 100, DAX and Dow continue to gain ground, with breakouts in European markets providing confidence of further upside.

FTSE 100 punches through resistance to continue uptrend

The FTSE 100 has managed to continue its surge this week, with the price breaking through the crucial 7371 resistance level. That was required as a precursor to further upside, and thus we are looking for further gains from here.

The swing low of 7359 lies below that breakout level, and it therefore makes sense to stay bullish as long as the price remains above that point. Look out for a break through 7435 as the next point of resistance.

DAX breaking higher from wedge pattern

The DAX has continued its uptrend this morning, with the index rising despite the bearish wedge pattern that formed since Wednesday. The break through the 12,124 swing high, 76.4% Fibonacci retracement, and descending trendline all adds up to an environment where the index looks set for further upside to come.

As such, look for the index to continue this current trend, with a break below 12,052 required to negate this current short-term bullish trend.

Dow rallies into trendline and Fibonacci resistance

June has been a favourable month for the Dow Jones, with the index driving higher off the back of a disappointing May. That run has taken us into a crucial zone of resistance, with the 26,213 Fibonacci resistance level meeting an ascending inside trendline.

A break through that zone of resistance would signal the beginning of a push towards the prior highs of 26,710, yet it makes sense to watch for the reaction at this level before taking on any further longs.

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.

Plan your trading week

Get the week’s market-moving news sent directly to your inbox every Friday. The Week Ahead gives you a full calendar of upcoming economic events, as well as commentary from our expert analysts on the key markets to watch.

For more info on how we might use your data, see our privacy notice and access policy and privacy webpage.

You might be interested in…

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.