Gulf Keystone Petroleum Price: GKP Waxes Higher, Moving in Consolidations

PUBLISHED: Jan 04 2025 @ 02:14 | Comments (0) | More info about Azeez Mustapha

In the first place, in regards to the critical trade underlying line, it has to be made at 150, given that the Gulf Keystone Petroleum Ltd (LSE:GKP) waxes higher to the north side, moving in consolidations.

Playing or pushing alongside the forces to the positive side requires using all of one’s senses to avoid being quickly whipped. It will exactly return to receiving a series of decreases if there is a tendency to dive back in a reversal style against the 160 and 150 spot lines. From a technical point of view, yearning order execution has been seen to lack steady pushes as the price hovers between the 161 and 153.3 levels.

Resistance Levels: 165, 175, 185
Support Levels: 145, 140, 135

Should investors in GKP Ltd. push farther north over the EMAs’ buy signal sides?

A fresh round to signify that an overbought condition has come to feature in the business operations of Gulf Keystone Petroleum Ltd. shares offering firms, the market tends not to decrease if no tangible bearish candlestick isn’t formed, given that the price waxes higher, moving in consolidations presently.

Indicating that purchasing velocities are on track to push maximum to the high, the stochastic oscillators have broken through the overbought area. The 50-day EMA’s top is where the 15-day EMA’s trend line is located. And, right in the middle, they have the trade line at 140. The indicators’ overall technical outlook advises buyers to exercise caution when placing new orders above the moving averages’ purchase signal.

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