• Major support – 7280 (trend line joining 6869 and 7087).
   
• Major resistance – 7360
   
• FTSE100 has formed a temporary top around 7359 on Jan 16th 2017 and declined slightly from the high.
   
• The index broken trend line support at 7280 and declined till 7218 at the time of writing. It is currently trading around 7234.
   
• On the lower side, any break below trend line support will drag the index down till 7130 (resistance turned into support)/7095 (38.2% retracement of 6678 and 7359)/7000.
   
• Any break above temporary top will take the index till 7396/7451 (161.8% retracement 7359 and 7223).
  
  It is good to sell on rallies around 7275-7280 with SL around 7360 for the TP of 7095/7000