Friday, August 11, 2017

Monthly Trading Forecast for Gulf Keystone (August 2017)

Gulf Keystone shares (LSE:GKP) are a bearish market, which has been going downwards since last year. There seems to be no end in sight for the bearish journey, but something interesting is currently happening.

Following the recent bearishness in the market, there is an upward bounce, which has moved price from below the lower Trendline, into the area between the two Trendlines. The RSI period 14 is above the level 50, indicating some bullish effort. However, a bullish signal would not be really generated until price goes above the upper Trendline.

A movement below the lower Trendline would only restore the bearish outlook on Gulf Keystone, and even emphasizing it.

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

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1 comment:

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