Webinar: A closer look at the charts
Join Saxo Bank technical analyst Kim Cramer Larsson for a look at the technical levels in some major asset classes, including equities and forex.
Head of Commodity Strategy
Summary: We look to buy Brent crude on the break of the double top from May at $80.50/barrel. We will set our stop at $77.40/b and trade the December contract.
Instrument: LCOZ8 or OILUKDEC18
Price Target: Open
Market Price: 80.03
Entry: On a close above $70.80/barrel (LCOX8)
Stop: $77.40/b followed by a trailing stop of $3.2/b, equivalent to 2 ATR (Average True Range).
Time Horizon: Medium term