FTSE 100 Index Futures Forecast December 5, 2012, Technical Analysis

The FTSE 100 Index rose during the session initially on Tuesday, but found the 5900 level far too resistive yet again. The result is the second shooting star like candle in a row, and as a result we expect a breakdown and pullback to the 5800 level in relatively short order. The latest rally is a bit extended, and do see a pullback to 5800 isn’t going to be a real stretch of imagination. With that being said, we do not see this market as being able to be bonds until we clear the 6000 level, something that’s going to take an extraordinarily strong rally to do so.