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Monday, July 28, 2014

Monthly Forecast on Gulf Keystone (August 2014)

Gulf Keystone shares (LSE:GKP) are very weak right now. For several months, the price has been unable to go determinedly upwards in spite of desperate efforts by the bulls.

Again, the price has broken out below the lower Trendline, while the RSI period 14 has gone below the level 50. While this signifies a ‘sell’ signal and the continuation of the bearish outlook on the market, there may be occasional reverting towards the region above the lower Trendline (which may make the price movement look like a false breakout). This occasional situation would be invariably short-lived, as the price goes further south.

The price may test the accumulation territory at 70.00; even before having any chance of transitory or sustained bullish reversal.  

This forecast is ended by the quote below:

“A trader needs to learn to maintain emotional stability. If a trader gets excited on winning days, and then goes into a depression on losing days, he may hesitate to take a trade even when he sees an opportunity.”   - Adrienne Tograhie

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

Learn from the Generals of the Markets: Market Generals

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