Technical forecast for FTSE 100

FTSE Dec13 quite directionless but held support at 6665/6660 perfectly for the second day. The outlook is mixed so same levels apply today. Support at 6680 then 6665/60 but longs need stops below 6650. Next support at 6630 but a retest of 6605/00 is a buying opportunity. Stops below 6580.

Resistance at 6720/25 but shorts need stops above 6730. A break higher then targets 6765/70 & possibly a test of October’s high at 6798.

Weekly outlook: Strong support at 6605/00 was tested & held last week, but below here look for 6545/40 then a buying opportunity at 6505/6475. Resistance at 6798 then this year’s high at 6861 for a selling opportunity.