Gulf Keystone shares (LSE:GKP) are very weak right
now. For several months, the price has been unable to go determinedly upwards
in spite of desperate efforts by the bulls.
Again, the price has broken out below the lower
Trendline, while the RSI period 14 has gone below the level 50. While this
signifies a ‘sell’ signal and the continuation of the bearish outlook on the
market, there may be occasional reverting towards the region above the lower
Trendline (which may make the price movement look like a false breakout). This
occasional situation would be invariably short-lived, as the price goes further
south.
The price may test the accumulation territory at
70.00; even before having any chance of transitory or sustained bullish reversal.
This forecast is ended by the quote below:
“A trader needs to learn to maintain emotional stability.
If a trader gets excited on winning days, and then goes into a depression on
losing days, he may hesitate to take a trade even when he sees an opportunity.” - Adrienne Tograhie
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Learn from the Generals of the Markets: Market Generals
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