Monthly Forecast on Gulf Keystone (November 2014)

PUBLISHED: Nov 05 2014 @ 16:30 | Comments (0) | More info about Azeez Mustapha

Gulf Keystone shares (LSE:GKP) have been making commendable effort to go bullish. The price bottomed last month and since then has rallied. It is possible that the rally may be sustained in spite of occasional pullbacks, which are normal. You need to know the historical performances of your trading approach so that you can trade with confidence.

In the chart, the price broke upwards from the upper Trendline, as the RSI period 14 goes above the level 50. This is a ‘buy’ signal; plus the price may go upwards towards the supply level at 80 in this month. As long as the RSI is above the level 50 and the price does not go below the demand level at 40.00, the bullish outlook is extant. We need to be patient as our positions are subject to the forces in the markets. We check our trading results in the long run, not in the short run. Crops do not grow and mature in one day – even when we want it to be so.

This forecast is ended by the quote below:

“You can have a number of setups in front of you and it is vital to have trading rules to distinguish between the opportunities you are happy to consider and those which you are not.” – Sam Evans

Learn from the Generals of the Markets: Market Generals

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