FTSE 100 Index Futures Forecast December 31, 2012, Technical Analysis

The FTSE 100 Index futures initially tried to rally during the Friday session, but fell short of the 5980 level in order to fall the way back down to 5925. Because of this, we formed a very bearish looking candle, and it should be noted that it was right after a shooting star for Thursday. With all this being said, we do need to see a clearance of the 5880 level to confirm a lower low at this point in time of the most recent candles and at that point we would be more than willing to sell. Obviously, based upon all of our analysis over the last several weeks if we can get above the 6000 level on a daily close, we would be more than willing to start buying.