Gulf Keystone shares (LSE:GKP) have been trending
lower since January 2014, and this may continue in March, although in a limited
manner.
The long-term outlook is bullish but the medium-term
outlook is bearish. Below the Lower Trendline, there has been a cut-throat
struggle between the bulls and the bears. The position of the RSI period 14,
being below the level 50, shows that the price may fall further downwards. It may
drop lower, reaching the support levels at 140.00 and 135.00 respectively. Meanwhile,
this expected drop could be limited in nature because the price may soon find
some strong hurdles to further bearish drop.
Conclusion: Gulf
Keystone shares would drop further downwards in March, but they would
eventually find strong supports and rally. Speculating on the market means that
you are pitted against some of the most brilliant trading minds. What would be
your fate when you personally challenge the champion of a US Open? Could you do
that?
This forecast is ended with the quote below:
“Becoming
a competent trader takes time and effort as with any other type of training. Be
realistic; you will not replace your full time salary in three months! When looking
for an online trading coach, find someone who will tell it as it is. It will
likely take at least a year or more to become consistently profitable and don’t
believe anyone who tells you otherwise.” - George
Hallmey (Source: Tradersonline-mag.com)
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Eye-opening trading lessons: Lessons from Expert Traders
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