The FTSE 100 closed Monday’s session at 10,323.75, gaining 128 points (+1.26%) in a broad-based rally that underscored the index’s resilience amid a choppy market.
The move was supported by strong gains across utility and energy sectors, with Shell (+2.97%), National Grid (+3.66%), and SSE (+3.26%) among the standout performers.
From a technical perspective, Monday’s advance was decisive. The index broke closed above the psychologically important 10,300 level after initially falling in the early part of the session. The index traded as high as 10,337.38 intraday.
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A sustained hold above 10,300 would open the door toward the 10,500 zone, with bulls ultimately eyeing a retest of the 52-week high of 10,934.94.
On the downside, near-term support is well established at 10,150 — near Monday’s intraday low — with a stronger floor around 10,000, a round-number level likely to attract significant buying interest on any pullback.
The broader trend picture remains constructive. The index is up +3.95% year-to-date, and the 52-week gain of +18.67% highlights a sustained structural uptrend.
However, the 1-month performance of -2.69% and 3-month reading of -1.43% suggest the index has been consolidating recent gains, making Monday’s move all the more significant.
Momentum indicators will need to confirm the move — a close above 10,481 on elevated volume would be a strong bullish signal. Traders should watch the 20-day moving average as a key dynamic support level in the near term.
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