Gulf keystone stock (LSE:GKP) is bearish in outlook and this is the trend that is supposed to continue holding out for the rest of this year. The hope of a bullish recovering has been dashed for the year.
In the chart, we can see that the price is currently below the EMA 21 and the Williams’ % Range period 20 is in the oversold region. This means the signal in the market is bearish. It means that the selling pressure could continue driving the price lower and lower and lower. It means long trades are never recommended.
The low of the year 2015, which was formed in August, could be tested again before the year runs out.
This forecast is ended by the quote below:
“We do not have control about price direction. We only can control our entry and exit levels, the size of the position and hence our potential profits/losses… Once I recognized that I had to accept uncertainty, I searched for a technique to implement this in my trading.” – Christiaan van der Meer
What Super Traders Don’t Want You To Know: Super Traders
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