LONDON: Britain's benchmark share index steadied near its highest level in four-and-a-half years on Tuesday, although some technical indicators suggested the rally may peter out in the near term.
The blue-chip FTSE 100 was roughly flat at 6,182.60 points by 0807 GMT -- following a move that saw it hit fresh peaks earlier this week as an improving economic backdrop drove more investors out of bonds and into higher-yielding equities.
However, the FTSE 100's strong run since the start of the year - which has seen the index gain around 5 percent since the start of 2013 - has now put it in "overbought" territory, according to technical analysis.
The FTSE 100's relative strength indicator (RSI) is currently at around 74 - above the 70 point level which shows that an index is technically "overbought" and which is often used by some traders as sign to sell in the near term.
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