This is the first time Sasol has been high since the June rally. Overall this past week as been extremely positive and not surprising(or maybe it is) Sasol was one of the biggest winners. Oil has made a good rise and finally sitting above $50 and no doubt this possibly has had a positive effect on the Sasol share price. That and perhaps more asset sales to reduce debts. Current support is R 165 and the resistance investors would be wanting to beat is R 180(or R178 to be more accurate). Sasol did temporarily break uptrend support and the recent rally has put it back well above the line. Another positive week on both the stock market and energy prices will give Sasol a great chance to cross that infamous resistance.
However, Sasol does tend to produce surprises on both side. There is little chance the R 165 will hold should we have a negative week. Note Sasol doesn’t maintain peaks very well.
However, Sasol does tend to produce surprises on both side. There is little chance the R 165 will hold should we have a negative week. Note Sasol doesn’t maintain peaks very well.