FTSE 100

Key insight

The FTSE 100 is less than 1.3% below its all-time high of 10,934.94, but today's -0.92% selloff — led by energy and commodity stocks reversing from an oil spike — threatens to establish a lower-high pattern that could trigger a deeper correction toward 10,600.

The FTSE 100 is pulling back -0.92% from Monday's 10,801 five-month high, stalling just below the critical 10,850 resistance zone as oil has retreated sharply from $100+ Iran-spike levels to $83.3, removing the energy-sector tailwind that drove the late-July surge.

Main risk

Brent Crude Oil Reversal from $100+ Iran-spike High

Brent surged above $100/barrel last week on Iran-US tensions before collapsing; today's $83.3 Brent reading represents a dramatic reversal that directly squeezes FTSE 100 energy majors (BP, Shell) which led the index's rally.