Charting indices: will resistance halt indices' bull run?

After five really strong days, IG analyst Josh Mahony is getting more and more cautious about trading the FTSE100, CAC 40 and Dow. 

Even though the FTSE100 has broken the 6,298 resistance level, Josh thinks a pullback is very likely and considers 6,429 as the next level of resistance. On the CAC 40 we are at a key level: since June, the 4,712-4,732 area has been an alternative area of support and resistance, and given the recent sharp rise of the index we are more likely to see some sort of correction around this level. We have a similar story with the Dow. The 16,863 resistance level has been broken, and focus shifts to whether or not it stays above this level in today’s session.

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