Since the beginning of the year, the UK main index lost almost 6.4% but last week managed to rise almost 1.0% and made a phase change, shifting from a distribution to a bearish phase. Last week the main UK index initially fell but found enough buying pressure near 2017 low to reverse and managed to close near the high of the week, in addition the index closed within the previous week range, which suggests being slightly on the bullish side of neutral. The stochastic is showing a weak bearish momentum although is below the 50 mid line. After another test to 2017 low the FTSE 100 managed to push upward however it seems to be contained within a trading range that goes from 7,287.5 down to 7,025.0. Only when the index breaks out of this trading range is where we will see a new trend beginning, either up or down. Expecting an upward move to a key level at 7,287.5 on a break above the previous week high at 7,188.0 (scenario 1) however a bounce from a key level at 7,287.5 may set in motion another push downward to 2017 low at 7025.0 (scenario 2).