GULF KEYSTONE SHARES RALLY
The shares (LSE:GKP) were trending downwards till
the early part of August 2014. That was when the price hit a rock bottom around
the demand level at 60.00. After this, the price begins to rally – something that
is still valid up till now.
In the chart, the price broke above the upper
Trendline, going further upwards. From its oversold territory, the RSI period
14 has gone above the level 50. This shows the determination of the bulls to
push the price higher. The market is supposed to continue rallying for the next
several weeks, perhaps reaching the supply levels at 110 and 120 consecutively.
Those who missed the bullish breakout on Gulf
Keystone may want to buy a pullback. When one misses an entry signal, one may
wait for the price to come back to the level where one would prefer to enter. Some positions may be smoothed in a trendless
phase of the price journey. A trendless market ought not to be traded.
We ensure that we want to trade the correct instrument
in a correct market condition, or else, we may be adversely affected.
This forecast is ended by the quote below:
“You don’t have to make trades all the time. The big
winners will come and when they do you need to have all your cash available. I
think that’s what I would do differently – trade less and be more patient and
wait for the best setups.” – Dan Zanger
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Learn from the Generals of the Markets: Market Generals
No comments:
Post a Comment