DAX
The price accelerated lower on Wednesday, focusing plethora of strong supports between 10600 and 10560 (n/t congestion floor / 20; 30 & 55SMA’s). Repeated upside rejections at 10800 zone after strong post-US elections rally, formed congestion that generated initial signal of possible rally’s stall.
Sustained break below congestion floor at 10600 zone is needed for fresh bearish signal that may extend towards next pivotal support at 10500 (Fibo 38.2% of 10020/10796 rally), loss of which will confirm reversal. Daily indicators turned south and support scenario.
Conversely, repeated failure to break lower would signal prolonged consolidation phase.

Res: 10697; 10746; 10800; 10876
Sup: 10600; 10560; 10500; 10455

FTSE100
Extension of Tuesday’s rally failed to strongly penetrate daily cloud base (currently at 6866), as rally was capped by Fibonacci 61.8% of 6988/6697 barrier at 6877.
Positive impact of yesterday’s long bullish candle is fading, as the price extends lower from session high at 6877. Daily MA’s are returning into bearish setup, with daily indicators holding in the negative territory.
Close below daily cloud would be seen as initial negative signal, which requires confirmation on break below Tuesday’s low at 6786, for further easing.
Rising daily 100SMA reinforces initial support at 6800 zone (Fibo 38.2% of 6697/6872 upleg).
Res: 6827; 6866; 6877; 6919
Sup: 6800; 6786; 6764; 6738
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