The FTSE 100 index is currently in a range-bound trading pattern, with a low of 8,183 and a rebound to the 55-day simple moving average at 8,266, which is acting as a resistance level.
Traders are closely watching for a potential breakout, with a rise above Thursday’s high of 8,279 potentially leading to testing the resistance zone between 8,335 and 8,336.
On the other hand, if the index falls below Thursday’s low of 8,217 and Tuesday’s low of 8,183, it may continue to decline towards the September low of 8,153.
In contrast, the S&P 500 is trading near record highs, while the NASDAQ 100 has seen its advance stall, indicating a divergence in market performance among major indices.