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...
Higher highs on the daily, crashing through a resistance. We are highly likely going up on this one.
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in green with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere...
Sasol is starting to look attractive.
There is potential for a 50% upside return within the next 12 months.
All risks aside - Sasol is looking strong and in an uptrend.
Price target is R320 by next year June/July
Sasol must stay above R160 and within the yellow uptrend to confirm this uptrend continuation.
Pullbacks can be used as entry points to...
>SASOL and the oil industry have recovered from the 2020 March oil crash
>Buyers of the March had massive gains and now by the looks have taken profits
>Selling off has begun with targets +R140
>130 to 157 Zar looks like a good zone where new buyers will come in
Hi guys, it's been a while! I meant to post this on Tuesday two days ago
So we see SOL making lower highs and higher lows in this triangle pattern.
I think we can wait for the breakout and retest and then trade in that direction.
Note I don't short because of fees on the platforms. But today looks like it might break lower. Wait for candle close.
Also note the...
JSE:SOL has been trading in an upward parallel channel since October 2020.It has made numerous unsuccessful attempts to break out of the trend since then but the upward channel has held. With the break of the previous highs last week, I think we can continue to see an upward rise in the price all the way to the resistance level at around 28000
JSE:SOL is showing all the signs of a direction change based off of the stochastic, MACD and EMA's. I will however, only enter short if it breaks and confirms below the trend line that it has been adhering to since the end of October last year. Once this is confirmed, I think we could see a nice downward move for a while.
JSE:SOL is showing signs of a momentum change, and we could be looking at a downward move to the support level around 15500. The stochastic and MACD have both crossed down a couple of days back and we finally have confirmation from the EMA's that the trend may be changing.
My previous chart just need an update.
After the 8 600 entry position I proposed, Sasol is still holding firm as we approach the earnings report. Keep holding it and do not be alarmed if it retraces back to the 18 000 level. It is still above the 50MA, 200MA and the fundamentals are not providing any erratic downward movement (specifically the rights issue). ...
A small inverted head & shoulders pattern has formed on JSE:SOL in the recent past, but it is yet to make any significant upward move because of it. It came up and tested a strong resistance level on the 10th of Nov and then retraced back down. If it comes up again and breaks through that resistance line convincingly, I will consider entering a long position.
We end the week with Sasol hitting R72 and R122 in one week and as of writing is at R105, We have seen a jump from R91 to R112 in less than an hour.
What a long a interesting week for the markets and Sasol...
I have just posted a revision of my one chart,
I will explain it through updates during the week. I just wanted to end the week of with as...
will add to this analysis tomorrow, I'm also looking for just some stability but for now here is some of my charts.
What I tried to show with the USOIL and USDZAR is that both of them benefits Sasol the higher they are. However the news of the vaccine shot up oil future and the markets overall. Along with the election and...
we see a support that it failed to break, it bounced on the level which was set on level 2 consolidation. this could be changed if they constantly trade around that zone. Sasol is best left alone for now as it is unclear with its movement.
patterns are said to be the same across all instruments, we are currently seeing a rest before further downside movement.
for sasol to rise we need strong bullish moment as oil is taking a hard hit which also affects sasol.