Current trend

The FTSE 100 index is trading near annual highs at around 7570.0 on the back of positive reports from commodity companies.

The world's largest supplier of commodities and rare earths, Glencore Plc, released a strong report, according to which EBITDA increased by 84% for the year to 21.3B dollars, while the company's net income was 5.0B dollars. In turn, net debt decreased by almost 2 times to 6.0B dollars. On the back of positive results, the issuer announced the launch of a new 550M dollar share buyback program.

Royal Gold Inc., another large precious metals and royalty trading company in the sector, reported quarterly revenue of 168.03M dollars, beating analysts' forecast of 165.4M dollars. Earnings per share were 1.04 dollars, with market estimates of 0.9 dollars.

The growth leaders in the index are Polymetal International Plc (+5.05%), Fresnillo Plc (+3.67%), Just Eat Takeaway.com N.V. (+2.10%).

Among the leaders of the decline are Diageo Plc (-2.05%), Compass Group Plc (-1.96%), JD Sports Fashion Plc (-1.69%).

Support and resistance

The index quotes are traded within the global ascending channel, still holding within it. Technical indicators are in a weakening buy signal state: the fluctuation range of the Alligator indicator EMAs is narrowing and the histogram of the AO oscillator is forming new descending bars, while approaching the transition level.

Support levels: 7510.0, 7330.0.

Resistance levels: 7620.0, 7800.0.