The wait for a home victory in the Champions League lingers on, but even the most pessimistic of Celtic fans would have been thrilled with the level of performance against Atletico Madrid on Wednesday night. 

In the first half, Brendan Rodgers’ men produced their finest football of the season against a side that was on six-game winning run and is just three points off the summit of La Liga. Matt O’Riley, continuing his rich vein of form, ran the midfield, while Kyogo and Luis Palma grabbed the two first-half goals that brought a raucous Parkhead crowd to its feet. 

The Hoops can’t match the majority of clubs in this competition when it comes to fees that have been shelled out on the starting XI, while European expectations at Celtic have been tempered to such a degree over the last decade that many fans feel merely grateful to even be sharing a table with Europe’s elite. 

So, heading into such an eagerly-anticipated match, the primary criterion, at this stage, is the performance. Do Celtic seem like they belong at this level? Can they avoid being embarrassed? It’s a far cry from defeating the likes of Manchester United, Barcelona and AC Milan – but those days, sadly, are a distant memory. 

Despite a relatively modest summer spending spree, Celtic's performance in the group stage has been commendable. They have more than held their own over the three matches and are unlucky to have just a point to show for it. We’re at the halfway stage, and while progression into the last 16 is a long shot, third place is still up for grabs. Two more draws would even surpass last season's points total, but let’s not set the bar too low. 

They went toe-to-toe with one of the best teams in the world on Wednesday, and although we’ve previously acknowledged that there are no prizes for a resolute effort, it’s clear that the manager is steering this youthful team in the right direction. 

He said: “I thought the players were outstanding. The quality of our football and the composure that we played with, especially in that first 55-60 minutes, was very good. 

“We scored two brilliant goals and we were playing against a top side, so we expect them to have a spell in the second-half, but the players kept fighting and they kept working. 

“It’s a tempo that we’re not used to, so probably after 65-70 minutes that little bit of fatigue started to creep in, but the players have that focus and mentality and they kept going. It was at least worthy of a point, but I was very pleased with the performance.” 

Tiredness was a factor during the second 45, and when facing players of the calibre of World Cup-winner Antoine Griezmann, and Álvaro Morata (whose transfer fees amount to over £150m), then a mountain of a task only becomes more difficult. Atletico deservedly went down to 10 men for the final eight minutes, but the Hoops didn’t have enough in the tank to push for a winner. 

It was also telling that Rodgers didn’t bring on the likes of Oh, Yang, or David Turnbull – an indication that he doesn’thave faith in the quality of his bench. But when it was all said and done, and we had a chance to catch our breath, a draw was a fair result. Los Colchoneros know every trick in the book, they didn’t panic when Rodrigo De Paul was shown red and managed to see the game out. 

Diego Simeone barely offered his hand to Rodgers after the final whistle – an awkward moment that displayed a lack of professionalism, even if he was frustrated with the referee, which he later claimed. 

The return fixture at Metropolitano Stadium in two weeks will be a different kettle of fish. However, with Celtic upping their levels week by week, who knows what could happen on the night? 

Preparation is key - and this is where things begin to falter. How can you prepare for Feyenoord, Lazio and Atletico when in between you’re playing St Mirren, Hearts, Ross County etc.  

On Saturday it’s ninth-placed Hibs at Easter Road (kick-off 3pm). Nick Montgomery has been in the job just over a month and has seen them through to the League Cup semi-final, but he’s only managed one league victory and put up very little resistance at Ibrox last weekend.  

You can only beat what’s in front of you, though, and after playing two matches in less than 72 hours on Sunday and Wednesday, it might be wise for the manager to consider squad rotation. Becoming over-reliant on key players such as Kyogo, O'Riley, and Callum McGregor would be a mistake.

There have been hints in the media that January could see a mass exodus of deadwood. These players will already know who they are, so if they have hopes of staying in Glasgow, they don’t have much time to reverse their fortunes.  

If Celtic truly want to become a Champions League club, then once the under-performers are gone, it frees up room for the type of quality that can turn draws at that level into victories. Let’s hope the ambition is there to make that a reality.