AfroTez

Sasol Midday analysis 12/06/2020

Short
JSE:SOL   SASOL LIMITED
Interesting start to the morning. As predicted yesterday, Sasol opened to immediately test the R 120 downtrend support line which I marked as a possible buy in point and provided amazing rebound to help anyone who bought in at this point. This was the same pattern we saw yesterday and for now we can’t expect a test on the down trend resistance. Positively the most we can expect is to close around R 125 - R 130 as we are currently testing major support at R 130. Worst case scenario we will be closing at around 120 - 124. Overall we are still in a down trend and as stated in yesterday analysis, very possible we could reach R 100 a share on Monday.

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