SASOL on the ledge

Considering the Brent Crude OIL downward trend from June 2008, overall.

We can see that there was a break in the trend recently, showing bullish signs. However there stil is the horizontal resistance at 85 level.

On SOL side there is agressive bullish action, but limited to the brent crude oil price movement, if the oil price can breach the 85 resistance level then, one can confidently take the LONG position on SOL and head for target at R355 level.

If the Brent crude oil resistance is not breached, then there is a possibility that the Short position will be in effect and a retracement to the R232 level can be expected.

(Not trading advice, just opinion)


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