Monthly Forecast for Gulf Keystone (December 2018)

Share On Facebook

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.

Trading realities: Traders mindset

 

CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

This area of the ADVFN.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ADVFN.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.

Leave A Reply

 
Do you want to write for our Newspaper? Get in touch: newspaper@advfn.com

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V: D:20200126 02:00:04