Monthly Forecast for Gulf Keystone (November 2018)

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Gulf Keystone shares (LSE:GKP) had been going upwards for most past of the year. However, there has been an ongoing downwards correction which started in October 2018. The correction is still in place till now…

4 EMAs are used for this strategy, and they are EMAs 10, 20, 50 and 200. The color that stands for EMA is shown at the top left part of that chart.

The EMAs 10, 20, and 50 have started sloping downwards as a result the recent bearish correction… Although price has remained above the EMA 200 and that is the only situation that can save the extant bullish outlook. A movement below the EMA 200 would force a bearish bias to come into place.

 

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