FTSE 100 is powering through as the October month begins.

The FTSE 100 index has started this month on the front foot, from a technical aspect currently trading at 7019 and in a strong bullish position. Applying the Fibonacci retracement to the index chart, the first resistance level sits at 7043 which is just below the 38.2% fib level. Further resistance sits at 7079 (just above the 38.2% fib level), a break above this point could see the index hike towards the 50% fib barrier. Towards the downside, the first support level is at 6955 (23.6% fib) followed by another support level of 6895. A break below the 6895 level may result in the FTSE 100 sliding back towards the major support at 6782 (0% fib). MACD is strongly positive and RSI reads 60, overall suggesting a positive stance.