Value Forecast for Gulf Keystone – October 2020

PUBLISHED: Oct 12 2020 @ 03:18 | Comments (0) | More info about Azeez Mustapha

Gulf Keystone stock (LSE:GKP) has made some promising moves, as made evident by what is happening in the chart. Following months of bearish pressures, price is now poised to skyrocket seriously.

In the daily chart, Gulf Keystone has been making attempt to rise and that is just the beginning. By the time the bullish effort becomes significant, bulls would have missed most of the move. Now is the time to enter the market.

Parabolic SAR has appeared below the current price, which means that the current bullish effort is supported. Also the Commodity Channel Index (CCI) period 20, has been sloping upwards, following its period of staying in the oversold territory. CCI is expected to slope higher and higher until it enters into the overbought region. By then, the upwards movement in the market would have become very strong.

The outlook for GKP is bullish for this month, and the market may even continue moving northwards for the next several months, reaching the supply zones at 80.00, 90.00 and 100.00. The supply zone at 100.00 may even be exceeded.

Trading realities: Technical Analysis

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