$JSESOL hourly chartJSE:SOL Testing bottom of the consolidation pattern. More downside possibleby ALSITRADER113
$JSESOLJSE:SOL Another potentially good short. $JSESOL down after oil was up 8% tells you the storyby ALSITRADER4
With Current Market Volatility, Where is Sasol Headed?Sasol is an international integrated chemicals and energy company that leverages technologies and expertise of over 30 000 people working in 33 countries. Sasol develops and commercialises technologies as well as build and operate world-scale facilities to produce a range of high-value product streams, including liquid fuels, chemicals and low-carbon electricity. Weekly: Coming off a perfect 78.6% Fib retracement level, I expect to see more downside ultimately breaking the lows at 35,000. I have a target level of 30,000 to 29,000 where I will be looking for signs of a reversal. The long entry from there should be a great trade! Daily: The daily structure will complete in either 3 or 5 waves and I expect it to reach the targets as indicated above. There may be one or two interim pullbacks which will form this structure but as things stand now, I will only be looking to trade the shorts until we break the lows around the 35,000 mark.Shortby Linton_White3
Bullish Harami on SasolJSE:SOL is showing a bullish harami pattern, which is a reversal sign. So, we can expect a reversal from the current downtrend. If this turns up, we can expect resistance around the 450 and the 480 price areas.Longby RossLarter4
$JSESOLJSE:SOL Broke small bearish flag. If 47000 is broken will probably go and see 38000 in next few weeks. by ALSITRADERUpdated 3
Sasol ADR - Triple Top, Bear FlagSasol ADR Monthly, $33.42 - Triple Top: May '08, April '11 & July 14 - Since declining from $60, the share has developed a bear flag pattern. - Recently we have seen the price being rejected at the upper boundary of the channel (flag). - Bear flag break targets $21 over LT.Shortby LD_Perspectives4
JSE:SOL Levels 2018/11/04Short term I have a neutral-bearish view on SOL. Playing the edges of the current balance. We are near Larger Time Frame support levels though. Any selling below the currently balance will likely find buyers at each level lower.by JSEBOSS3
Long SasolStrong sell off in oil offers potential upside Large capex for increased production Long term holdLongby WarrenDavison3
JSE:SOL Sasol Mark-up ContinuingStarting a new post for October to track the structure of SOL (See link below for Septembers post). Last month it looked like the markup had started and trading in a strong upward channel. At the end of the month the lower support line seemed to have broken. However, there has been effort to break the trend without response (high down volume but no progress in price). This effort is also seen in the negative divergence of price with the OBV. The 50 SMA seems to be a level of interest for buyers. If the 50 SMA is broken there could be more downside back to the accumulation range. If it holds and we could see a further markup to levels around 61800 and possibly even breaking the previous high at 65200.Longby SteynTradeUpdated 4
$JSESOLJSE:SOL Small continuation formation made and broken on shorter term $JSESOL chart. Target 52800/53000by ALSITRADERUpdated 115
SOL J - ShortLevels: Entry: 56300 SL: 58557, eg just above the Aug 30 high 2257 TP1: 52240 TP2: 48420 Why: (1) Technical rejection of the August 30 highs - eg. 3.4% rally followed by complete reversal to opening. N.B: This on a backdrop of a USDZAR (orange) and WTIOIL (red) rally. (2) Potential overextention of the recent USDZAR rally. (3) Alternative equities trade to shorting an oil contact, as it approaches the sell zone. (70-70.50 for the CL1!) What could go right: (1) Rand and Oil are reversing and taking SASOL with it. (2) General bearish bias for EMs follows through. (3) Fundamentally (a) escalation of strike action in the first days of September and (b) unexpected supply interruptions in their ZA operations (coal or electricity). What could go wrong: (a) Continued (over- :-) ) extention of ZA equities of which SASOl profits. (b) Escalation of the USDZAR devalutation. All things being equal, it's a rand hedge for local pension funds. (c) Escalation of global oil futures due to X, Y and Z Sample Trade: Risk: R5000 Size: 220 Profit: R17400 (based on TP1) R/R: 3.49 Shortby SajuliUpdated 3
JSE_SOL: Wyckoff - Sasol Accumulation CompleteFollowing the Wyckoff logic: Sasol has been under accumulation with bids coming in at 36000. Volume has been declined since 2017 showing the stock has moved to strong hands and the markup has started. Will wait for a backup to the trading range which would label the market to be in Phase D or pullback in which would indicate we are already in Phase E. But semantics aside the markup is starting and it would be good to find a good place to enter to ride the trend to the highs or even new highs.Longby SteynTradeUpdated 5
Ascending TriangleJSE:SOL has broken through the ascending triangle that we saw forming a few days ago.Longby SteveLarter5
SOL Short- broken a key trend line (blue) - My instincts tell me that a retracement needs to happen - Volume Profile thins out "somewhat" from here downShortby cgd8
Hammer ShortSSl recently has been recovering from a market correction. However, even tho the coppock curve and the ADX are saying this could be a buy, I see a hammer candlestick forming. This shows that the prior trend could be changing. So, I put a short position below the 50 MA. Also, volume seems to be decreasing.Shortby BlackbearTrader1