For the rest of this month, Gulf Keystone (LSE:GKP)
is expected to continue going in the direction of the bulls, just as it has
been doing since the beginning of July 2013. Prices are ushed by Smart Money. It is even
more interesting that, usually, the stock that has trended northwards seriously
would continue to be purchased by greedy speculators who are angry at the fact
that they have missed the initial serious trend.
As it can been since on the historical price
journey, any bearish pulls have invariably resulted in new leases of bullish
strength. The ADX period 14 is around the level 30, showing momentum in the
market; plus it remains safe to say that the DM+ is above the DM- (which shows
the buyers’ supremacy). The MACD (default parameters) has both its signal lines
and histogram above the zero line. This is a bull market and the current
retracement in the price is an opportunity to go long cheaper.
Conclusion: This
market is supposed to resume its bullish journey and touch the distribution territory
at 240 again. At times, the most sensible thing a trader can do is to wait for
the best time to open her/his positions. You would often need to choose between
the market action and the sensibility of a trading idea.
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Eye-opening trading lessons: Lessons from Expert Traders
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