FTSE Posts Record Rally Amid Trade Deal Optimism, Faces Technical Resistance

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2025-05-05 09:48:02

The FTSE 100 surged 1.95% in its longest winning streak on record, fueled by renewed Optimism for global trade agreements following remarks from former U.S. President Trump. IAG led the charge with a 5.01% gain as falling crude prices buoyed airline stocks.

Technical barriers loom at the 8,668 resistance level, with the index remaining in a bearish trend unless it breaches the Ichimoku cloud. market participants await confirmation of a bullish reversal, signaled by an RSI reading above 70.

Trump’s comments aboard Air Force One suggesting potential trade deals ignited risk appetite. The 15-session rally now tests the market’s conviction as traders weigh macroeconomic signals against technical constraints.

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