Since the beginning of the year the index is still up about 0.18% pushed up by last week rally of more than 0.5%. The FTSE100 is in a distribution phase since mid-May and is struggling to close above the 10-week moving average. Last week the index rose with a wide range and closed near the high of the week, however did not have the strength to close above previous week high, suggesting being slightly on the bullish side of neutral. The Stochastic is showing bearish momentum although is still above the 50 mid line. Expecting a downward move to a key level at 5,760 (scenario 1) on a break below the previous week low at 6,032 however a break above the previous week high at 6,185 could push the index upward to a key level at 6,441 (scenario 2).