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 CFDs with this provider.You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.

FTSE 100, DAX and Dow consolidate, with next leg higher likely

FTSE 100, DAX and Dow have all been drifting lower, yet with key support yet to be broken, another move higher is a distinct possibility.

FTSE 100 rises through key intraday resistance

The FTSE 100 provided a welcome boost yesterday afternoon, with the index rising through the notable 7374 resistance level to provide a telling new high.

The recent period of weakness has been somewhat unimpressive, with the index slowly losing ground in the wake of an initial period of growth in early June. This gradual decline highlights a strong possibility that this is a temporary breather before we move higher once again. With the price having pushed through that 7374 level, there is a good chance we are now seeing the start of that bullish phase come into play. Watch for further upside in the near future. A break below 7324 would be required to negate this bullish outlook.

DAX continues to consolidate above key support zone

The DAX has been in consolidation mode of late, with the index trading above a crucial area of support.

With the index heading lower this morning, a break below that 12,052-12,063 zone would be required to bring about a bearish sell signal for the index. Conversely, should such a move fail to materialise, a break through 12,140 would provide a more bullish view.

Dow awaiting the next leg higher in gradual ascent

The Dow Jones is trading within a very slow and conservative uptrend of late, with the gradual stepped creation of higher lows continuing over recent days.

The index is currently drifting lower, in a continuation of the move seen since yesterday’s high. As such, the bulls are expected to come in once again, with that bullish outlook only negated in the event that the price declines below 25,987.

This information has been prepared by IG, a trading name of IG Markets 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. See full non-independent research disclaimer and quarterly summary.

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