Remember Elliott Wave structures constantly evolve; but regardless can give us very good trend indications. Please do check out my Telegram (link in description) if you want to keep up to date and if you enjoy this content.
Sasol has taken quite the beating but looks set to push upwards to fill the large gap it left behind as we begin to slowly look towards an end to the lockdown and the easing of restrictions it entails (in this case, travel) which means more cars on the road and an increase in demand. All this leads to sufficient fundamental and technical confluence in my opinion.
Demand will resume soon which means price will go up. Exactly when is hard to say, but it is sound logic. Palladium is needed for your car, when factories open up again, it is obvious what is going to happen. We have touched the first Fib. level and now appear to be going sideways. We could still drop to the Golden ratio but this could be an accumulation phase.
Stocks in various sectors saw significant gains yesterday, a strong indication that the worst may be behind us as reports of a slowdown in the growth of the COVID-19 virus emerge and China begins to resume its' production.
Still sitting on the sides till a clear break to the upside can be seen.
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Now let's first be clear. Once again I will repeat this is not financial or investment advice. This is also not technical analysis. The airline industry has been one of the hardest hit sectors; we don't even need to discuss why. The only question one needs to ask is: will airlines recover? I think so, and an ~80% drop since 2018 exacerbated by panic selling and an...
As you can see, BTC has fallen back into the descending triangle that began forming in June last year. Whilst indicators point towards a buy, I am personally waiting for a clear break of the triangle and the apex point. No amount of TA is going to bring certitude as to what is happening right now. Play it safe, be patient. There is no need to rush in.