Wednesday, May 28, 2014

Monthly Forecast on Gulf Keystone (June 2014)

Gulf Keystone (LSE:GKP) is in a long-term bearish trend, though the trend last year was bullish. This reveals that it is only a matter of time before gains are given up – whether it takes months of years.

These shares are a good instance of choppy instrument. This is a kind of price action that favors those who look for objective demand and supply zones.  Right now, the price seems to have found a bottom at the support level of 80.00, which has posed a serious threat to the bearish trend.

In the chart, a price close above the EMA 21 would signify a possible uptrend (especially when the Williams’ % Range goes into the overbought region). Anything apart from this would mean the continuation of the extant bias.

This forecast is ended with the quote below:

“So you see, it's never too late to get started building your own fortune. Many people will sadly pass away with fortunes only in their mind, never to be shared with the rest of us. Whether their barriers were financial, emotional, or just a form of laziness, most people will not fulfill their true potential.” – Joe Ross

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

Learn from the Generals of the Markets: Market Generals


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