FTSE 100 trading at around 7,870. Pretty neutral at the moment as BP is down 5% and HSBC is up 5%, struggling to move in either direction.

Taking a look at the FTSE 100 index after the recent earnings reports from oil giant BP and financial giant HSBC. Currently, the index is trading at around 7,870, it's in a pretty neutral stance at the moment as BP is down 5% and HSBC is up 5%. As both stocks make up a big chunk of the weighting within the index, the FTSE is struggling to move in either direction. Though there is support below at the 20 and 100-day moving averages (7,863), followed by 7850. A break below 7,850 may see the index fall further towards 7,815, and then even towards the major support sitting at 7,787. Towards the upside, resistance sits at the 50-day MA (7,875) followed by a tough point at 7,897. A break above 7,897 could see it rise higher with the target near its previous highs (7,915-7,930). Looking at the indicators, MACD remains slightly positive but RSI is now neutral as it reads 50.