The UK main index ended 2017 with a gain of almost 8.0% also last week managed to rise more than 1.0% and remains in a bullish phase since mid-December 2017. Last week the main UK index rallied with a wide range and closed near the high of the week, in addition the index managed to close above the previous week high, which suggests a strong bullish momentum. The stochastic is showing an extreme overbought market although is still displaying bullish momentum. The FTSE 100 had a pretty good Christmas rally but the Index to continue in a healthy bullish trend must make a pullback to the previous resistance that now should reversed and turn to a support. Expecting a downward move to a weekly support at 7,588.0 on a bounce from the previous week high at 7,735.0 (scenario 1) and should resume the bullish trend toward a Fibonacci extension at 7,921.0 after a bounce from a weekly support at 7,588.0 (scenario 2).