munyaelliott
Short

SASOL (SOL) 1-HOUR TIMEFRAME SHORT

JSE:SOL   SASOL LIMITED
This stock is moving in a downtrend, and the weekly timeframe shows a possible right shoulder forming. A break of the neckline on this weekly timeframe will signal further bearish momentum. On the 1-hour timeframe, price are trickling down as the momentary uptrend has finished and prices are below that ascending trendline , forming a series of lower highs and lower lows and also forming a series of bear flag patterns. My figures are as follows:

Entry: Now
Stop Loss:44 000
Target Take Profit: 40 000

Is it just a coincidence that the crude oil prices are also falling? We will never know.
Heisenberg Trader
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