The Gulf Keystone Petroleum Ltd (LSE:GKP) has again dropped deeper to find a support line around 130. Buyers have to push northward from 145 beyond a near psychological resistance point of 160 in the wake of establishing a recovery trend. The 200 axis happens to be the major retardation trading line over the long term. Investors are to buy more when the price declines because that is the window of opportunity before the rise.
Resistance Levels: 175, 185, 195
Support Levels: 130, 120, 110
Will the GKP Ltd company’s stock decline lower further belyond the 130 support line afterward?
Near-barrier trading zones have been between 160 and 180 value lines as the Gulf Keystone Petroleum Ltd price has dropped to find a support line below them. The aftermath of a sudden fall-off from around those points will give birth to another round of lower low pr lows, as the case may be. The 50-day EMA is below the 15-day EMA. Also, they are above market lines. The Stochastic Oscillators have been swaying in the oversold area while trying to maintain a 20-level level of oscillation. That suggests that a rise could occur soon.
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