Monthly Forecast for Gulf Keystone (December 2018)

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Gulf Keystone shares (LSE:GKP) are currently under bearish pressure. The bearish pressure was strong enough to overturn the recent bullishness in the market.

A “sell” signal appeared in October 2018 when price dropped below the lower Trendline, and it has held out till now, causing a Bearish Confirmation Pattern to appear in the market. The RSI period 14 is in the oversold region, denoting weakness in the market.

In the last few months, any upwards bounces in the market have been taken as valid shorting signals and this is supposed to continue for the next few months. The bias on Gulf Keystone is bearish and thus, long trades are not recommended.

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