Following the Wyckoff logic: Sasol has been under accumulation with bids coming in at 36000. Volume has been declined since 2017 showing the stock has moved to strong hands and the markup has started. Will wait for a backup to the trading range which would label the market to be in Phase D or pullback in which would indicate we are already in Phase E. But semantics aside the markup is starting and it would be good to find a good place to enter to ride the trend to the highs or even new highs.
تعليق:
Still waiting for a good place to get in. On the daily TF we see some type of climatic action with high volume and a rejection candle close to overbought conditions. Will wait for price become oversold at the bottom of the stride.
تعليق:
After the climatic type action there has been a strong pullback. Watching for a potential pullback to the trading range.
تعليق:
SOL found support at the Monthly Pivot Point with a pin bar. With a break of the pullback downtrend we could see price continue to previous highs.
تعليق:
The potential break up did not materialize last week instead the upward stride has been broken on large volume. This aggressive break of the trend could be a backup to the trading range and will look for support to at least around 480. There are also some volume clusters around 500.
