FTSE 100

Key insight

10,716 holds above the 10,600 200-day MA while peers sell off — relative strength points to 10,800 round-number resistance next. Oil above $100 is the primary fuel; a reversal there is the primary threat.

Outperforms every major European peer Monday — DAX -0.6%, CAC -0.8% vs FTSE +0.7% — as oil at $100.2 (+3%) lifts energy heavyweights Shell and BP, which together hold ~15% index weight.

Main risk

US equity risk-off spill

S&P 500 -0.7%, Nasdaq -1.8% — sustained US sell-off historically drags FTSE below 10,600 200-day MA within sessions.