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JSE:SOL Sasol Breaking the Trading Range

Long
SASOL LIMITED (JSE:SOL)  
SteynTrade Updated   
JSE:SOL   SASOL LIMITED
Support and Resistance Supply and Demand Volume jse jsesol wyckoff Volume Indicator accumulation
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supportandresistance supplyanddemand volumestudies jse jsesol wyckoff volume accumulation
Sasol has formed a smaller Trading Range (TR). There has been a steady decline in volume indicating absorption. Divergence on the Volume RSI points towards accumulation. Price is approaching the Yearly Pivot Point and 200MA. If it jumps across this resistance we can see a markup but if it finds resistance we this could indicate distribution.
Comment:
Price has pushed above the yearly Pivot Point. The markup looks like it has started.
snapshot
Comment:
Well, this was not accumulation but distribution. High volatility and volume showing significant weakness could be some hard times to come.
snapshot

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