Gulf Keystone Petroleum Price: GKP to Pull Up Soon, Holding Above 80

PUBLISHED: Sep 14 2023 @ 10:35 | Comments (0) | More info about Azeez Mustapha

A feature of a long-stance position has been established in the Gulf Keystone Petroleum Ltd. stock (LSE:GKP), as the market possesses the possibility of pulling up soon, holding above the support line of 80.

Less active movements have been observed in the market over the past few sessions as bulls have continued to reshape their points in order to break through some overhead barriers, while bears have tended to ignore the possibility of a subsequent breakdown past the value mentioned above. The gathering of muscles will need to be the shareholders’ directive even if that circumstance arises.

Resistance Levels: 110, 120, 130
Support Levels: 80, 70, 60

Should sellers in the GKP Ltd. market consider moving past the 80-point barrier while disregarding the topside EMA points?
Although the trend of the GKP Ltd. price is still falling under a long bearish pattern, the present trade outlook doesn’t appear to back getting more free fall-offs, given that the crypto-economic trade may pull soon, holding above the level of 80.

Underneath the 50-day EMA indication is the 15-day EMA indicator. The stochastic oscillators are moving in a consolidation-like fashion and are in the oversold area. A bullish engulfing candlestick would appear across the moving averages’ trend lines, and the bigger part would be intercepted by the smaller line to the upside to foretell a formidable change in trend. However, now is the time for stakeholders to start claiming their places.

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