Gulf Keystone Petroleum Price: GKP Extends a Fall, Calls Up a Swing

PUBLISHED: Jun 23 2023 @ 16:26 | Comments (0) | More info about Azeez Mustapha

When the stock of Gulf Keystone Petroleum Ltd. (LSE:GKP) finds a base close to the line of 120 support, it calls up a swing after extending its decline toward the point.

Happenings in the shareholding firm align with previous psychological thought that bulls are liable to recoup catalysts from usual lower trading of the support value stated in the paragraph above. There will be either a delay or a pit stop session before the northbound push continues to run smoothly through resistances. Buyers should be cautious about moving past the points between 145 and 150 if there is no fearful gravitational force coming forth in the next couple of days.

Resistance Levels: 150, 160, 170
Support Levels: 110, 100, 90

Should traders in GKP Ltd. continue to cross the line of 120 below the EMAs?
More than often, it is riskier to go further under in an oversold reading condition outlook for a particular trade as the Gulf Keystone Petroleum Ltd. price has extended a fall, calling up a swing toward the smaller indicator.

On top of the 15-day EMA trend line at 132.850, the 50-day EMA trend line represents a crucial resistance barrier at 142.5126. The stochastic oscillators are conjoined and in the oversold range, indicating that a consolidation motion could occur soon. The current trading candlestick, however, indicates the likelihood of witnessing a move colliding with an upwardly significant order in the follow-up operations.

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