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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

FTSE 100, DAX and Dow turn lower after recent gains

FTSE 100, DAX and Dow start to roll over, following a rally into Fibonacci resistance.

FTSE 100 starts to weaken from Fibonacci resistance

The FTSE 100 has rallied into the 76.4% Fibonacci resistance level over the course of October thus far, with the index turning lower from that key resistance level. The wider downtrend still remains intact unless we see a break through the 6127 peak established in mid-September. As such, a bearish outlook is in play here, with a rise through Fibonacci resistance needed as the first signal that we could start challenging this multi-month downtrend.

Source: ProRealTime

DAX turning lower from Fibonacci resistance

The DAX has similarly rallied into the 76.4% Fibonacci resistance level (13196), bringing the potential for short-term downside. Unlike the FTSE, we are not within a wider downtrend here. However, there is a chance of downside if we see price break from this intraday uptrend. Thus, a move below the 13008 support level would provide a short-term sell signal given the current respect of Fibonacci resistance.

Source: ProRealTime

Dow Jones starts to ease back after recent gains

The Dow has started to drift lower, following on from a period of consistent gains. The consistency of this trend means there are few notable swing lows below, but down below we have an interesting trendline support which could provide a target for this current move lower. As such, further losses do see likely for the short-term, but there is a good chance such a move will represent another retracement phase unless we break below the 27653 mark.

Source: ProRealTime

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