FTSE 100 Futures Forecast December 6, 2012, Technical Analysis

The FTSE 100 futures market had a strong session on Wednesday, but still languishes at the 5900 level. This starts a significant resistance area all the way up to 6000 based upon longer-term charts, and as a result we are looking for sell signals, not buy signals. It isn’t until we get above the 6000 level that we are comfortable buying at this point, and we do expect a pullback to the 5800 level before too long. However, we do not have the week candle that we are looking for in order to start selling. With this in mind, we are more than willing to trade off of the shorter-term charts as we really like the look of this longer-term resistance.