Technical Take:
Since I have placed my trading note out on Brent Crude Oil last week I have been looking at Sasol Limited (SOL) and I was looking for a close above 40000c. Yesterday it finally closed above this level ever so slightly, but it is looking good as the oil price is on the rise and the rand is also losing strength against the dollar.
Trade Summary Sasol:
- ENTRY Long (Buy): 40108c
- STOP: 38949c
- TARGET PRICE 1: 41128c
- TARGET PRICE 2: 41944c
Afrikaans
Handel Idee:
Ek hou Sasol Limited (SOL) al dop vandat ek my handel idee op Brent Ru-olie verlede week uitgebring het en het gewag vir n sluitings prys bo 40000c. Die prys het uiteindelik gister bo die vlak gesluit meestal te doen met die olie prys wat styg en die rand wat verswak teenoor die Amerikaanse Dollar.
Handel:
- Intreevlak (koop): 40108c
- Stop: 38949c
- Teiken Prys 1: 41128c
- Teiken Prys 2: 41944c
Always remember to apply your risk management measures before placing your trades as this will keep you trading in the markets.
Read more notes by Barry HERE.
All charts sourced from Bloomberg
Barry Dumas | Trading Specialist at GT247.com
Disclaimer: Any opinions, news, research, analyses, prices, or other information contained within this research is provided as general market commentary, and does not constitute investment advice. GT247.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information. The content contained within is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
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