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FTSE 100 forecast for coming week ended 16th November, 2012.


Ftse is still moving in that 5800-5900 ranges. In later days of this week it was trying to break 5800 levels but it is hard to predict from it, especially its close in the last day. If I consider that Ftse is making a base at around 5780 then it may try to reverse from that range in coming week. In the upside it has multiple options but all depend upon breaking 5900 levels in the upside.

Last week I was talking that I may change my opinion about probable bearish pattern of Ftse if it does not drop below 5800 though it did not break it but Ftse is in a position where I have to still hold my past opinions about that medium-term bearish pattern. Though its last day was better but if it fails to hold that gain then there is a chance that Ftse may break around 5700 levels.

On longer time basis its moves in last few weeks are quite expected and I am still hopeful about the upside movement so long it maintains around 5800 ranges in the downside. It is very necessary for Ftse to break around 6150 level to avoid the long-term bearish pattern.


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