FTSE 100 Index Futures Forecast December 18, 2012, Technical Analysis

The FTSE 100 Index rose did little during the Monday session, but is presently just below the 5900 level. This area was the beginning of significant resistance all the way up to the 6000 handle, and the more adventurous type of traders will be shorting the market at this point. However, the fact that we have broken above 5900 gives us reason to think that we will eventually plow higher. Because of this, we are simply waiting for some type of bearish action that gets reverse in the form of a hammer or other such candle in order to join the buyers in pushing this market much higher. As for selling, we have no interest in doing so at the moment.