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

The FTSE 100 Index futures fell during the session on Tuesday, but bounced a bit off of the lows in order to form a very neutral looking candle. We are just underneath the 5800 level, and as a result we think that this market could be finding significant resistance at this point in time.

If we managed to break down below the lows from the session on Tuesday, we think this would be bearish sign and send this market looking for 5600 before it’s all said and done. However, if we managed to break the highs, we think that 5900 will be tested again. Above 5900 you have quite a bit of resistance all the way to the 6000 level, and as a result we are much more interested in selling than buying at this point in time.