Monthly Forecast on Gulf Keystone (March 2014)

PUBLISHED: 24 Feb 2014 @ 19:54 | Comments (0) | More info about Azeez Mustapha

Gulf Keystone shares (LSE:GKP) have been trending lower since January 2014, and this may continue in March, although in a limited manner.

The long-term outlook is bullish but the medium-term outlook is bearish. The price has fallen below below the Lower Trendline, plus there has been a cut-throat struggle between the bulls and the bears. The position of the RSI period 14, being below the level 50, shows that the price may fall further downwards. It may drop lower, reaching the support levels at 140.00 and 135.00 respectively. Meanwhile, this expected drop could be limited in nature because the price may soon find some strong hurdles to further bearish drop.

Conclusion: Gulf Keystone shares would drop further downwards in March, but they would eventually find strong supports and rally. Speculating on the market means that you are pitted against some of the most brilliant trading minds. What would be your fate when you personally challenge the champion of a US Open? Could you do that?

This forecast is ended with the quote below:

“Becoming a competent trader takes time and effort as with any other type of training. Be realistic; you will not replace your full time salary in three months! When looking for an online trading coach, find someone who will tell it as it is. It will likely take at least a year or more to become consistently profitable and don’t believe anyone who tells you otherwise.” – George Hallmey (Source: Tradersonline-mag.com)

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