Short term
Trade view / 09 June 2016 at 5:53 GMT

Watch for SWE30 volatility following tight range trading


Yesterday Sweden's OMXS30.I (SWE30.I) experienced trading in a fairly tight range of about only 8 points, which given price action as of late is a dull day. This makes us believe that this market is in for some volatile expansion and a larger directional move is in the making, from a short term perspective.

This market is now caught in between the key short term pivots at 1369 and 1359. A break of the upper range should see prices move higher and a break of support should see price move lower.

Resistance on the upside is found at 1377, 1388 and 1396. Support to the downside is found at 1351, 1341 and 1333.

Management and risk description

The plan is to let the market decide in which direction the position should be taken. 

Buy a break of the key pivot at 1369, with a stop at 1359 and targets of 1377, 1388 and 1396.

Sell a break of the key pivot at 1359, with a stop at 1369 and targets of 1351, 1341 and 1333.
Parameters bullish trigger

Entry: Buy above 1,369.

Stop: 1,359

Target: 1,377, 1,388 and 1,396

Time horizon: One to two days

Parameters bearish trigger

Entry: Sell below 1,359,

Stop: 1,369.

Target: 1,351, 1,341 and 1,333

Time horizon: One to two days.

SWE30.I hourly chart
SWE30.I hourly chart
SWE30.I daily chart
SWE30.I daily chart
SWE30.I daily development chart
SWE30.I daily development chart
Source: all charts SaxoBank. Create your own charts with SaxoTrader; click here to learn more. 

— Edited by Robert Ryan

Non-independent investment research disclaimer applies. Read more
09 June
Johan Berntorp Johan Berntorp
First target hit.
10 June
Johan Berntorp Johan Berntorp
If we take out 1321 pivots to the downside are 1315, 1307, 1297 and 1292.


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