FTSE 100

Key insight

10,722 trades in a tight band — break above 10,800 swing resistance needed to confirm trend extension; failure keeps 10,600–10,650 200-day MA cluster as the magnet.

10,722 holds above 200-day MA near 10,650 but stalls below 10,800 resistance; European peers weaker with DAX -0.3%, CAC -0.5%, limiting upside conviction.

Main risk

Brent Crude at $98 — Energy sector drag

98.3 Brent flirts with $100 psychological level; cost-of-living squeeze risks BoE hawkishness and dampens UK consumer discretionary names.