FTSE 100 Futures Forecast December 24, 2012, Technical Analysis

The FTSE 100 futures fell during the session on Friday, but bounced off of the 5900 level yet again in order to prove its supportive nature. However, we see this hammer as simply a signal that the market “wants” to get above the 6000 level. It has not broken that area yet, so we are cautious at this point in time and do not want to go long until we get above that point. Once we get above the 6000 level, we think this is a buy-and-hold type of situation in this market should continue much higher.