Thursday, June 4, 2015

Monthly Forecast on Gulf Keystone (June 2015)

Gulf Keystone shares (LSE:GKP) are now in a tight equilibrium zone. This is a condition that has been going on since March 2015; and a breakout is expected very soon. There would either be a breakout to the upside or a breakout to the downside.

The ADX period 14 and its DM+ and DM- are closely intertwined – showing no directional movement. The MACD default parameters, has both its histogram and signal lines below the zero line. It is thus more likely that there would be a breakout to the downside.

A breakout to the upside would take the price above the resistance level at 50, leading to a renewed bullish journey. A breakout to the downside would take the price below the support level at 30.00, leading to a clean bearish bias.

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

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