FTSE 100 Hits All-Time High Despite Global Chip Sell-Off

While the FTSE 100 reaching an all-time high is a positive signal, the RSI at 67 indicates it is approaching overbought territory, raising the risk of a short-term correction. Although the MACD line remains above the signal line, the narrowing gap may suggest weakening momentum. Despite the global chip sales, the rally reflects market resilience, but the impact of this news may be limited. In the short term, a sideways trend or a slight pullback is highly likely.

BP shares have fallen 5.6% in the last 24 hours, with the RSI entering oversold territory at 29.1. The MACD is below the signal line and in negative territory, indicating weak short-term momentum. The price is trading below both the 20-day and 50-day moving averages. Although the news headline reflects general market optimism, BP-specific technical indicators are far from signaling a recovery. Therefore, short-term direction may remain uncertain.

SHEL shares fell 2.6% in the last 24 hours, closing at $86.23, even as the FTSE 100 hit a record high. While the RSI at 39.17 approaches oversold territory, the MACD line remains below the signal line and in negative territory. Trading below the 20- and 50-day moving averages keeps the short-term outlook weak. Although the headline reflects overall market optimism, the technical weakness specific to SHEL may offset this positive sentiment. Therefore, direction uncertainty could persist in the near term.