Gulf Keystone stock (LSE:GKP)
remains a bear market, and the bearishness is supposed to continue in the next
several months.
Following the tight consolidation
that was seen at the beginning of this month, price has gone protractedly
southwards and that seems to be the beginning.
The ADX period 14 is at
the level 40, showing that the current momentum is strong. The DM- is below the
DM+, showing the weakness of the market.
The MACD default
parameters, has its signals line and histogram above the zero line. There is a
Bearish Confirmation Pattern in the market.
Gulf Keystone is thus
expected to continue its southward journeys, losing thousands of points along
the way.
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Traders’ Mindset: Traders' Mindset
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