Gulf
Keystone shares (LSE:GKP) have plunged again, after the recent bullish effort
was terminated around the supply level at 130.00.
Until
September 2017, the market was in perpetual downtrend; but it shot upwards
significantly, almost reaching the supply level at 130.00 before further
upwards movement was rejected.
The market
has assumed a smooth bearish run as price crossed the lower Trendline to the
downside. The RSI period 14 is now below the level 50 (even into the oversold region).
It is expected that price would continue going south.
Gulf
Keystone might reach the demand levels at 95.00, 93.00 and 90.00 in this month
of October.
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
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