Gulf Keystone Petroleum Price: GKP Holds Positively, Waxing Higher Below 200

PUBLISHED: 02 Mar 2025 @ 18:02 | Comments (0) | More info about Azeez Mustapha

Trade activities that have, in the recent past, portended a dominance as regards buying and selling in the exchanges of Gulf Keystone Petroleum Ltd. (LSE:GKP) have been that bulls are tending to head out bears in the subsequent movements, given that the price currently holds positively, waxing higher below 200 values.

In the interim, the larger moving average trend line and the key support level at 160 are emerging as critical zones to watch. If the market fails to break through resistance levels above 200 as it attempts to gain value, these zones could pose significant challenges. A series of reversals near or around the 200 level may signal the need to start taking profits and liquidating positions as the market potentially enters a corrective phase.

Resistance Levels: 210, 220, 230
Support Levels: 160, 150, 140

Looking at the oscillators’ positioning postures of the GKP Plc stock, does it signify that buyers are still going to make further headway?

If most of the swinging potentiates are from the trade territories of 180, and the smaller moving average has been pitched northward around, remaining not to breach southward in no time, buying forces will likely get more imaginable increases, as the Gulf Keystone Petroleum Ltd. stock holds positively, waxing higher below 200.

The stochastic oscillators are consistently positioned to reverse southward from the 40-point threshold, indicating potential downward pressure. The 15-day EMA is currently positioned above the 50-day EMA, confirming the prevailing bearish trend. Additionally, a distinct candlestick pattern has emerged, illustrating that lower highs are dominating price action, with most trades occurring between the 180 and 200 price levels.

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