SASOL LIMITEDLong
A look at the bullish scenario!
After a weekend of analysis and considering some alternative patterns I came across this clear ascending triangle pattern. We now had 1 of 3 scenarios that WILL play out: either the price will break up, break down, or consolidate further and trade sideways for a while as the market decides where to put it's money.
According to Bulkowski's rules for ascending triangles they will break up 63% of the time: thepatternsite.com/at.html
The RSI is neutral with more upside potential. The hourly MACD and weekly MACD shows an upward trend - making it more likely that we will indeed break up out of this triangle.
According to Bulkowski's rules for ascending triangles they will break up 63% of the time: thepatternsite.com/at.html
The RSI is neutral with more upside potential. The hourly MACD and weekly MACD shows an upward trend - making it more likely that we will indeed break up out of this triangle.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.