Following months of bearish propensity in September to December 2019,
Gulf Keystone stock (LSE:GKP) began to trend upwards in December. The uptrend
effort was serious enough to result in a “buy” signal.
The market is really above the EMA 21; while the Williams’ % Range period
20 is into the overbought region. This supports the continuation of the dominant
bias in the market, which is bullish.
There could be pullbacks/reversals in the market, which are supposed to
be transient. The bullish movement is expected to continue, and buying pressure
may lift the price towards the supply zones at 240, 260 and 280 this year. The
supply zone at 280.00 may even be eventually discarded.
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
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