• Chart pattern formed – triple bottom
   
• Major support - 7250
   
• Major resistance- 7322
   
• FTSE100 has formed a temporary top around 7322 and started to decline from that level. The index broken major support at 7250 and break below confirms minor weakness. It is currently trading around 7238.
   
• On the lower side, any break below 7250 will drag the index down till 7184 (200- 4H MA)/ 7145 (Feb 8th 2017).
   
• Any break above temporary top at 7322 confirms further bullishness, a jump till 7369 (161.8% retracement of 7322 and 7253)/7400.
  
  It is good to sell on rallies around 7250-7255 with SL around 7305 for the TP of 7145.