• Major support – 7130 (resistance turned into support)
   
• Major resistance – 7210 (10- day MA).
     
• FTSE100 is trading in narrow range between 7129 and 7205 for the past four trading session. It is currently trading around 7160.
   
• The index upside is capped by 21 – day MA and any break above confirms minor bullishness.


• On the higher side, resistance is around 7210 (21- day MA) and any break above will take the index to next level till 7271 (61.8% retracement of 7359 and 7129)/7359 (Jan 16th 2017 high).
   
• The break below the low formed on Jan 23rd 2017 confirms major weakness, a decline till 7071 (38.2% retracement of 6606 and 7359)/7000.
  
  It is good to sell on rallies around 7170-7180 with SL around 7220 for the TP of 7075/7000