Monthly Forecast on Gulf Keystone (September 2015)

PUBLISHED: 03 Sep 2015 @ 23:56 | Comments (0) | More info about Azeez Mustapha

Gulf Keystone shares (LSE:GKP) are making a false appearance of recovery, which could be a trap for the unwary buyers. The unpredictably that abounds in the oil sector is one factor behind the weakness the price is experiencing. As one expert recently said, today’s world is very complex and more uncertain than ever.

When fundamental figures seem appropriate but the price action differs, taking a position against it then does not make sense. Areas of consolidation have been pinpointed in the market, and Trendlines have been used to show them. The price briefly forayed outside the Trendlines, going below the lower Trendline, and testing the demand zone at 19.00.

From that demand zone, the price rallied back into the Trendlines. Unless the supply zone at 40.00 is overcome, this would not be viewed as a ‘buy’signal. The price could even fall again below the lower Trendline, thereby strengthening the existing bearish outlook.

Approaching Gulf Keystone requires a great amount of dexterity. Buy your own efforts, useful and useless, and through trials of many methodologies and speculation ideas, no matter the branch of trading knowledge, you may arrive at what works for you.

This forecast is ended by the quote below:

“Truth is that even trading itself is actually almost nothing but routine: you do the same thing over and over again. And most of the time you just sit there and wait and do nothing. It’s exciting when you start out, but after a few years the trading itself is really a dumb thing to do. What’s fun is the research and working on yourself as a trader.” – Marco Meyer

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