FTSE 100 Index Futures Forecast December 28, 2012, Technical Analysis

The FTSE 100 Index futures rose during the session on Thursday, but remains within the recent range. We still see the 6000 level as the critical barrier to smash through in order to get overly bearish of this market, and as a result we are not ready to start buying quite yet. Besides, this doesn’t surprise is much that we are still underneath it as the low liquidity of the marketplace right now doesn’t necessarily facilitate a massive breakout in this market. However, we believe that once the volume pick back up in January we will see a breakout. Until we get a daily close above 6000, we are going to have to be on the sidelines waiting for that signal in order to go long. As for selling, this market is been far too bullish lately to even consider it.