Gulf Keystone stock (LSE:GKP) is a doomed and hopeless market, which is expected to continue trending downwards and downwards, after it goes out of the current equilibrium phase.
Price has been caught in a tight equilibrium phase, which has started since April 2016. This has resulted in a strong base, which would eventually lead to a strong breakout in the market. What happened last month – a false bullish breakout – was a classical example that any rally in the market is a clean trap for adamant bulls.
Price is currently between the upper and lower Trendlines. Given the current position of the RSI period 14, it is more likely that the market would continue going south after there is a rise in the momentum.
In a foreseeable future, Gulf Keystone would eventually reach the accumulation territory at 0.5. Sell to the territory!
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