Oil has hit a 15-month high on the back of optimism over the Opec deal which needs to be sorted out by November 30. But, with a record long position building across the combined benchmarks, a disappointment could leave some exposed. Full report to come within the hour....
Short term
Trade view / 13 June 2016 at 6:49 GMT

EUROSTOXX – losses from 200-day average keep signals bearish

partner and technical analyst / 3 c analysis
United Kingdom

JUN'16 CONTRACT - Against a background of bearish signals in Q2, but with futures virtually unchanged since April’s open, weekly sentiment has been mixed and volatile. Investors have been selling into strength from close to the 200-day average rate and towards this year’s highs, but they have also been buying dips and protecting a sequence of higher monthly lows. So despite last week’s 100 point selloff through the key 50-day and 100-day averages signals are not strong. However, there remains a bearish bias as signals point to a test of May and April's lows.

Management and risk description

Allow room to sell any rally and lower stop to entry if the first target is met


Entry: market and 2943, Friday's Marabuzo line

Stop: 3003, just above the window which has been left open since Thursday's close

Target: 2855, May's low and 2775, April's base

Time horizon: this week

 Source: CQG. Create your own charts with SaxoTraderGO click here to learn more

Eurostoxx Weekly - inside April's range
  Source: CQG

Eurostoxx Monthly - 3 year lows
 Source: CQG 

Eurostoxx Quarterly - lower highs
  Source: CQG

— Edited by Clare MacCarthy

Non-independent investment research disclaimer applies. Read more


The Saxo Bank Group entities each provide execution-only service and access to permitting a person to view and/or use content available on or via the website is not intended to and does not change or expand on this. Such access and use are at all times subject to (i) The Terms of Use; (ii) Full Disclaimer; (iii) The Risk Warning; (iv) the Rules of Engagement and (v) Notices applying to and/or its content in addition (where relevant) to the terms governing the use of hyperlinks on the website of a member of the Saxo Bank Group by which access to is gained. Such content is therefore provided as no more than information. In particular no advice is intended to be provided or to be relied on as provided nor endorsed by any Saxo Bank Group entity; nor is it to be construed as solicitation or an incentive provided to subscribe for or sell or purchase any financial instrument. All trading or investments you make must be pursuant to your own unprompted and informed self-directed decision. As such no Saxo Bank Group entity will have or be liable for any losses that you may sustain as a result of any investment decision made in reliance on information which is available on or as a result of the use of the Orders given and trades effected are deemed intended to be given or effected for the account of the customer with the Saxo Bank Group entity operating in the jurisdiction in which the customer resides and/or with whom the customer opened and maintains his/her trading account. When trading through your contracting Saxo Bank Group entity will be the counterparty to any trading entered into by you. does not contain (and should not be construed as containing) financial, investment, tax or trading advice or advice of any sort offered, recommended or endorsed by Saxo Bank Group and should not be construed as a record of ourtrading prices, or as an offer, incentive or solicitation for the subscription, sale or purchase in any financial instrument. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, would be considered as a marketing communication under relevant laws. Please read our disclaimers:
- Notification on Non-Independent Invetment Research
- Full disclaimer

Check your inbox for a mail from us to fully activate your profile. No mail? Have us re-send your verification mail