Review of Sasol direction going forward

25 de jun. de 2020

After taking into consideration the price action for the week I have reviewed the trend analysis for the short term. Using built-in triangle pattern we see that the pattern actually extends longer than previously expected. Also, symmetrical triangles break either up or down usually between 70 to 73% of the way to the apex. I have marked these crucial points on the chart. I am personally leaning more towards a break out to the upside to retest 180 level than a break out to the downside to retest the 120 level for support. The longer time-frames are still very much skewed to the upside and short-term drawbacks I believe will be short-lived and more emotion-buying than anything else.

Do not take my word for any decision-making,please do your own research and analysis and come to your own conclusions.