Bull flag targets R430. Tough road ahead in terms of resistance levels. But still bullish oil price in ZAR longer term.
Close above R42.10 confirms - target = R42.25, SL = R41.60
Hourly close below R87.50 triggers new short - Target = R85. SL = R90.50. Full/larger target = R79
Whilst WHL has lost its important R47 lateral support - I suspect we might see a slight pullback before next leg lower. I am not a buyer at these levels as the trend is clearly down. Waiting on the sidelines to get a better picture.
Hourly close above lateral resistance has confirmed my bullish daily view.
Still bullish on oil in ZAR longer term. Short term trading opportunity on the hourly. Target = R411.50, SL = R379
Re-test of previous support may offer opportunity to add to short position. Full target of larger H&S still R47
Currently consolidation following steep sell off last week. Suspect we break lower, rectangle targets R48 and full H&S targets = R47.
After Monday's double top played out - the hourly chart is now in the process of forming a H&S = confirming LT short idea (see daily chart). Will add to my position (again) on a hourly close below R84.70. Target = R78, SL = R84.70
Should the daily overhead resistance hold - will offer another opportunity to add to my long term short (see previous weekly chart = double top)
currently consolidating after steep sell off. RSI trending higher. Close above R22.45 targets R27, with a potential second target at R33.80 (gap close). SL = R18
Hourly chart offering another short term entry - Picture confirms longer term view (see previous chart)
Bearish action continues - R47.25 level key.
Bearish double top targets R72. Pullback to lateral resistance has offered short entry opportunity. TP = R72 SL = R90
Hourly close above R96 targets R100.40
Currently up against some overhead resistance. Move above R424 targets R435, SL = R416