XJSE_SOL_CFD trade ideas
UPDATE: Sasol new upside in line to R242.67 target Since the last major update where we expected Sasol to reach a low of R112.00
Now the price has broken above the downtrend, we are seeing a more optimistic view.
And this is in the light that Brent Crude price is going up nicely along with a weaker US Dollar.
So, I am looking for upside for Sasol to around R242.67 now just to retest the resistance from the previous breakout.
Short on SASOLThere is potential for a short position on JSE:SOL coming up if the downward momentum continues. The stochastic and MACD crossed downwards a few days ago signaling a short position and with Friday's move, the 3 and 15 EMAs have crossed downwards as well. We are aiming for the target down at the support level around the R132 area.
