Saturday, July 8, 2017

Monthly Forecast on Gulf Keystone

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

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