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Wednesday, October 4, 2017

Monthly Forecast for Gulf Keystone (October 2017)

Gulf Keystone shares (LSE:GKP) have plunged again, after the recent bullish effort was terminated around the supply level at 130.00.


Until September 2017, the market was in perpetual downtrend; but it shot upwards significantly, almost reaching the supply level at 130.00 before further upwards movement was rejected.

The market has assumed a smooth bearish run as price crossed the lower Trendline to the downside. The RSI period 14 is now below the level 50 (even into the oversold region). It is expected that price would continue going south.

Gulf Keystone might reach the demand levels at 95.00, 93.00 and 90.00 in this month of October.


Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

Traders’ Mindset: Traders' Mindset
  

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