Gulf Keystone Petroleum Price: GKP Is in an Uptrend, Searching for a Base

PUBLISHED: Dec 15 2024 @ 08:45 | Comments (0) | More info about Azeez Mustapha

Some levels of technicalities are being played out around 140 line, as the market exchange of Gulf Keystone Petroleum Ltd (LSE:GKP) keeps in an uptrend, searching for a base.

It has been indicated by the oscillating tools that the forces leading to the current search for a base by the stock operations appear not to linger past the critical support of 130 in the near time. It is technically inclining for shareholders to anticipate staking a point based on that assumption.

Resistance Levels: 150, 155, 160
Support Levels: 130, 125, 120

Given that the GKP Ltd stock is trading at 140, what trading circumstance would cause the falls near EMAs to continue?
There must be a loss of momentum in the way bulls react around 140 to cause a consolidation movement act in the bears’ method of movement, given that Gulf Keystone Petroleum Ltd shares currently runs in an uptrend, searching for a base.

The stochastic oscillators have moved south into the oversold area as of this writing, indicating that long-position movers are preparing for a trade. The 15-day EMA indicator is now above the 50-day EMA indication after a minor downward swing. Overall, to guarantee that growing forces maintain a steady pace, there must be no breach past the line of 130.

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