GKP

Hi Richard,



if you recall I had 75 and then 64 as key supports. A break of 75 pointed to 64, being the 50% fib of the rise from 42.25. This happened last week as expected. We now also have a lower low on the daily, so the short term uptrend is broken. MA50 is also at 64 and that helped stop the fall on Friday.

So, daily breakout of downtrend failed and weekly resistance held on price and RSI (this was the key chart IMO).

I think GKP got off lightly with the E&P Co falls last week after OPEC - it usually excels in both directions so maybe more to come.

Next stop/support is 58.50 on daily, being the next swing low of 5/11 and the 61.8 fib. If that goes then we might retest the low of recent months. 58.50 needs to hold. First support below that is 50.

Trendline support on the weekly is in the 40 area but the monthly trendline support is right at 64, where we are now.

However you look at it, it doesn't look good and for me, 58.50 is a certainty now. If that breaks I will wait for 42. Hope none of the bulls here bought that false breakout .

GL
F4T

psyurmh wrote: Hi F4T

I hope you are enjoying your new tools!

Do you still think that 59p should be tested and maybe even the 50p area?

Thanks again as always.

Hi Food,i look at your chart and find myself staring at an inverse h&s,am i madly deluded.......... or just plain old fashioned deluded?

Paynents to genel,dno and gkp by the Kurddish regional government to be announced in the morning.
This news will hopefully provide gkp and genel with some well needed stability and may help form a base for the sp.

Inv h&s is the dream,what will be the reality?

How do you know this Roxlana?
thanks
Ade

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Edit...oh wow just read the iii BB
It could be an interesting day.

Luckily enough I had set my sl at 64p and it didn't get taken out on Friday....lets see what happens. Good luck all holders.

news.sky.com/story/1383271/ex-bp-boss-ha...ed-by-kurdish-payout

Smiling sheepishly.....

EDIT: Ok, less sheepishly now

www.londonstockexchange.com/exchange/new...detail/12169336.html