Chartbook: UK Chart FTSE 100 Update: Cautious trade beneath fresh highs - background remains positive

Anticipated gains have once again extended, to post a fresh all-time high around 9930,

before settling lower in consolidation around 9650.

Weekly stochastics are falling and the weekly Tension Indicator is also under pressure, highlighting potential for profit-taking into the coming weeks towards support at the 9500 break level.

A close beneath here will add weight to sentiment and open up a pullback, correcting the steep April-November rally into congestion within the 9200 - 9300 range. By-then oversold weekly stochastics should limit any tests in consolidation.

Further losses, if seen, will confirm a deeper correction and target 9000.

Following corrective/cautious trade, rising monthly charts are expected to prompt fresh gains.

A close above the 9930 all-time high of 12 November will turn sentiment positive and open up strong psychological resistance at 10,000.

Already overbought monthly stochastics could prompt significant reactions around here, before the positive monthly Tension Indicator and rising longer-term charts prompt a break and extend gains to fresh highs in 2026.