Gulf Keystone for 19/02/2020

#FTSE #Nasdaq For many private investors, this lot must feel like watching a Party Political Broadcast, prompting the question of ‘how long can this agony last?’ Last reviewed in July last year (link) we’d proposed a bottom of 178p. It successfully hit this target on Tuesday. The big question now, will it bounce?

Hey, chart goes here

Visually, GKP needs above 197p at present to exceed Blue on the chart, entering a zone where some proper price recovery becomes possible. Such a miracle calculates with an initial, meagre, ambition at 201p with secondary, if exceeded, a more useful 220p. While the visuals suggest a glass ceiling can be expected at 220p, closure above such a level allows for a longer term 251p. Beyond such a level, we shall need stir the tea leaves again as the path to such a significant level will require scrutiny.

Unfortunately, it feels more likely 178p shall break anytime soon, provoking weakness next to an initial 170p with secondary, if broken, down at 153p. We’d hope the calculation of a potential 153p shall prove incorrect as this will take the price below the dip at the end of 2018, solidly in a zone where negative news could swiftly drive 125 or below.

Hey, chart goes here

FUTURES

Time Issued

Market

Price At Issue

Short Entry

Fast Exit

Slow Exit

Stop

Long Entry

Fast Exit

Slow Exit

Stop

Prior

10:12:28PM

BRENT

57.48

               

‘cess

10:15:06PM

GOLD

1602.67

               

Success

10:17:29PM

FTSE

7403.44

7350

7312

7229

7423

7407

7429.5

7456

7367

‘cess

10:19:37PM

FRANCE

6071.7

               

‘cess

10:26:12PM

GERMANY

13708

               

Success

10:28:48PM

US500

3371.47

               

Success

10:31:11PM

DOW

29241

               

Success

10:33:47PM

NASDAQ

9632.22

9525

9514.5

9479

9570

9647

9667

9713

9570

Success

10:37:05PM

JAPAN

23205

               

Success

18/02/2020 FTSE Closed at 7362 points. Change of -0.96%. Total value traded through LSE was: £ 6,015,855,072 a change of 44.99%

17/02/2020 FTSE Closed at 7433 points. Change of 0.32%. Total value traded through LSE was: £ 4,149,027,770 a change of -24.37%

14/02/2020 FTSE Closed at 7409 points. Change of -0.58%. Total value traded through LSE was: £ 5,485,879,910 a change of -17.68%

13/02/2020 FTSE Closed at 7452 points. Change of -1.09%. Total value traded through LSE was: £ 6,664,066,181 a change of 30.17%

12/02/2020 FTSE Closed at 7534 points. Change of 0.47%. Total value traded through LSE was: £ 5,119,461,685 a change of -10.2%

11/02/2020 FTSE Closed at 7499 points. Change of 0.71%. Total value traded through LSE was: £ 5,701,269,309 a change of 0.17%

10/02/2020 FTSE Closed at 7446 points. Change of -0.27%. Total value traded through LSE was: £ 5,691,847,581 a change of -12.91%

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