Sasol Inv Cup and Handle just made it bearish to R221.11
Inv Cup and Handle formed on Sasol.
The price broken below the brim level.
The gap was filled when the price went back up to close and form the right handle.
Then the supply side kicked back in dropping it further.
We also see bearish indicators.
200 > 21> 7 - Bearish
RSI<50 (Lower highs) - Bearish
Target R221.11
ABOUT
Sasol is a global energy and chemicals company based in South Africa. It was founded in 1950 and was originally named the South African Coal, Oil and Gas Corporation.
The company is primarily focused on the production of synthetic fuels, chemicals, and gas. Sasol is one of the world's leading producers of synthetic fuels.
Sasol operates in more than 30 countries around the world and employs approximately 30,000 people.
The company is listed on the Johannesburg Stock Exchange and the New York Stock Exchange.
Sasol is one of the largest producers of low-emission transportation fuels in the world, including synthetic diesel, jet fuel, and naphtha.
In addition to its energy and chemicals operations, Sasol is involved in a number of other businesses, including mining, power generation, and technology.
The price broken below the brim level.
The gap was filled when the price went back up to close and form the right handle.
Then the supply side kicked back in dropping it further.
We also see bearish indicators.
200 > 21> 7 - Bearish
RSI<50 (Lower highs) - Bearish
Target R221.11
ABOUT
Sasol is a global energy and chemicals company based in South Africa. It was founded in 1950 and was originally named the South African Coal, Oil and Gas Corporation.
The company is primarily focused on the production of synthetic fuels, chemicals, and gas. Sasol is one of the world's leading producers of synthetic fuels.
Sasol operates in more than 30 countries around the world and employs approximately 30,000 people.
The company is listed on the Johannesburg Stock Exchange and the New York Stock Exchange.
Sasol is one of the largest producers of low-emission transportation fuels in the world, including synthetic diesel, jet fuel, and naphtha.
In addition to its energy and chemicals operations, Sasol is involved in a number of other businesses, including mining, power generation, and technology.
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Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
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