FTSE 100 Index Futures Forecast December 26, 2012, Technical Analysis

The FTSE 100 futures initially fell during the Monday session, but bounced back in order to pop up over the 5900 level yet again. This market is obviously bullish, and the hammer that we formed is another sign that we should continue higher. However, we see the resistance above going all the way to the 6000 level as a “zone”, and as a result we think this market will be very difficult to buy at this point in time. However, it is obviously one we cannot short and we simply will wait until we get a daily close above the 6000 level in order to start buying and hold onto the position for the longer-term.