Gulf Keystone stock (LSE:GKP) has been under selling pressure for
several months. The trend was mostly bearish for the year 2016, and there is no
end in sight for the bearishness in the market.
4 EMAs are used for the analysis and color that stands for each EMA
is shown at the top left part of the chart. The EMAs used are 10, 20, 50 and
200.
It can be seen that all the EMAs are sloping downwards. The bias on
the market is bearish and further bearish movement is expected. It is illogical
to open any long trades in the market until the price crosses the EMA 200 to
the upside (which is not an easy thing for the bulls to do).
Gulf keystone would remain weak. Any forays into the EMAs 20 and 50
would signal opportunities to sell short at better prices.
This forecast is ended by the quote below:
“We plan out what we are going to do before the market
actually does it.” – Sam Evans
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
What Super Traders
Don’t Want You To Know: Super Traders
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