Rising Flag formed on Sasol, the price broke below and beautifully it went down on a strong trajectory and declination. The price remained below the 200MA confirming the bear market for the company.
The price came down in a strong fashion takeing it to the first target of R184.52.
The oil price also coincided with the Sasol price having the downtrend dominate taking investors and trader out and shifting to shorts and sells.
The previous trend was down, and it was clear that the downside that came here was a DIstribution phase of the market environment...
SO where to from here? Well, Down!
There is no indication of upside or slowing down. And when there is I'll let you know.