Gulf Keystone Petroleum Price: GKP Descends, Looking for a Rebuilding Point

PUBLISHED: Jan 14 2024 @ 11:59 | Comments (0) | More info about Azeez Mustapha

A re-occurring trade situation that showcases that bulls are letting in back to bears force under the main resistance line of 140 has produced that the Gulf Keystone Petroleum Ltd shares company (LSE:GKP) has descended, looking for a rebuilding point above the line of 100 support.

Beyond the threshold of underlying support of 100, abrupt, aggressive downward moving forces are unlikely to experience stagnant further fall-offs in a long-term manner. We do not now advise that future drops will find a decent entry position, even if there is a consolidation movement, because there has been an oversold state. As a result, it is currently anticipated that shareholders will start the staking order procedures.

Resistance Levels: 130, 140, 150
Support Levels: 100, 90, 80

Should I place new shorting orders in the GKP Ltd. equities now that they are trading at about 114?
At this point of analytics, it is not mentally ideal for sellers in the GKP Ltd. shares market to execute a new shorting order, given that the price has descended through the points of the moving averages, looking for a rebuilding point below them.

The 15-day EMA indicator and the 50-day EMA indicator have slightly crossed southward against each other at this time. They are also over the trading candlestick that is now in use. The stochastic oscillators have clearly crossed southward into the oversold area to indicate that, should bears fail to consolidate their movement in the ensuing operations, the appearance of a bullish candlestick will indicate an ideal signal for the uprising motions to resume and follow the path forces back to the upside subsequently.

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