Gulf
Keystone shares (LSE:GKP) are making a false appearance of recovery, which
could be a trap for the unwary buyers. The unpredictably that abounds in the
oil sector is one factor behind the weakness the price is experiencing. As one
expert recently said, today’s world is very complex and more uncertain than
ever.
When
fundamental figures seem appropriate but the price action differs, taking a
position against it then does not make sense. Areas of consolidation have been
pinpointed in the market, and Trendlines have been used to show them. The price
briefly forayed outside the Trendlines, going below the lower Trendline, and
testing the demand zone at 19.00.
From
that demand zone, the price rallied back into the Trendlines. Unless the supply
zone at 40.00 is overcome, this would not be viewed as a ‘buy’signal. The price
could even fall again below the lower Trendline, thereby strengthening the
existing bearish outlook.
Approaching
Gulf Keystone requires a great amount of dexterity. Buy your own efforts, useful
and useless, and through trials of many methodologies and speculation ideas, no
matter the branch of trading knowledge, you may arrive at what works for you.
This forecast is ended by the quote below:
“Truth is
that even trading itself is actually almost nothing but routine: you do the
same thing over and over again. And most of the time you just sit there and
wait and do nothing. It’s exciting when you start out, but after a few years
the trading itself is really a dumb thing to do. What’s fun is the research and
working on yourself as a trader.” – Marco Meyer
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
What Super Traders Don’t Want You To Know: Super Traders
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