Annual Forecast for Gulf Keystone (2022)

PUBLISHED: 16 Jan 2022 @ 00:54 | Comments (0) | More info about Azeez Mustapha

Gulf Keystone shares (LSE:GKP) are currently going upwards, following the bearish movement that happened in November and December 2021. There is a new bullish signal in the market.

Price is now above the EMA 21, and the William’s % Range period 20 is sloping upwards, and it is currently in the overbought region. This is not a sell signal – it is rather a buy signal. Because any bearish corrections along the way would be temporary as price resumes going further north.

The bullish signal in the market is nascent and still has much more room to go. Price may reach the distribution zones at 220.00, 240.00 and 260.00 before the end of this year, as the outlook on GKP is bullish for this year. Those targets even have high chances of being exceeded this year, as bulls get more and more powerful.

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