Chartbook: UK Chart FTSE 100 Update: Sharp pullback from all-time highs

Consolidation beneath 10,000 has given way to a sharp break higher,

with prices posting fresh all-time highs just shy of 11,000 before falling sharply.

Overbought weekly stochastics are unwinding and the weekly Tension Indicator has turned down, highlighting a deterioration in sentiment and room for further losses into early 2026Q2.

A break below support at 10,000 will add weight to sentiment and signal a deeper correction of the 2025-2026 rally, as focus then turns to the 9650 Fibonacci retracement. But by-then oversold weekly stochastics and falling monthly stochastics could limit any deeper reactions in consolidation above congestion around 9500.

Meanwhile, resistance is at the 10,935 all-time high of 27 February.

Following a period of corrective/cautious trade, the rising monthly Tension Indicator and positive longer-term multi-month charts highlight room for further gains.

However, a close above 10,935 is needed to turn sentiment positive once and confirm continuation of multi-year bull trends into fresh all-time highs.