Annual Forecast for Gulf Keystone (GKP) – 2020

Following months of bearish propensity in September to December 2019, Gulf Keystone stock (LSE:GKP) began to trend upwards in December. The uptrend effort was serious enough to result in a “buy” signal.

The market is really above the EMA 21; while the Williams’ % Range period 20 is into the overbought region. This supports the continuation of the dominant bias in the market, which is bullish.

There could be pullbacks/reversals in the market, which are supposed to be transient. The bullish movement is expected to continue, and buying pressure may lift the price towards the supply zones at 240, 260 and 280 this year. The supply zone at 280.00 may even be eventually discarded.

Trading realities: Trading realities

 

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