Weekly Price Forecast on Gulf Keystone (September 25 – 30, 2013)

PUBLISHED: Sep 25 2013 @ 14:17 | Comments (7) | More info about Azeez Mustapha

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 pushed 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.

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