Sasol makes a case for a cycle low on 26 April with a yearly low price set at 20 March. The share price is seeking a yearly low price, the previous was 1094 days ago or the COVID low. Yearly lows are great entry points for good gains, in this case we can expect price to challenge the previous highs of over R400. This is one to keep an eye on and will be updated frequently for guidance. Early birds can scale in when price closes above the pink resistance immediately above current price.
Comment:
Sasol should be moving into a half cycle correction, eyes on whether we take out 4 May then 20 March comes into the picture. The markets appear to be setting up for a crash akin to March 2020 but waiting for a catalyst. Perhaps time to think of recession headlines from mainstream media.
Comment:
Sasol is now coming into a cycle low, the support is rather flat & price must avoid going below 4 May & 20 March, it is on a knife edge.
Trade closed manually
STOP-LOSS WOULD BE PRICE GOING BELOW 20 MARCH!