FTSE 100 Index Futures Forecast December 19, 2012, Technical Analysis

The FTSE 100 Index futures had a strong showing as we fell in then bounced back in order to form a fairly bullish candle closing just above the 5900 level. Because of this, it does look like we are in turn getting ready to try to break out, but we still need to see the 6000 level taken out in order to be comfortable going long. There are many very bullish charts in Europe right now, and as a result we will be more than happy to take a long trade in the CAC 40 at the moment as it looks the strongest. As for this chart, we believe that over the course of the next couple weeks we will eventually breakout above the 6000 level and find it a nice buy-and-hold market.