GKP

Second the hope you will not feel you are cluttering up board when your posts are highly valued.

Just like to clarify and probably not too properly speaking TA lol ... I have noticed over time that Thursday is usually the day for GKP if a bit iffy it gets worse and then tends to recover on Friday. If a close below 72.25 occurs say today or tomorrow but holds for Friday that would still be bullish for next week?

I must say I am quite surprised at what has happened so far today after finishing above the resistance yesterday.

I presume this does not bode well at all...

My timing is perfect of course! But this is often about patience, particularly with GKP which is played with/traded a lot and has many fundamental influences.

I am comfortable with my medium term view. That is what the TA is telling me and I trust it to prove correct most of the time (but not all as it is not a science). A close above 72.25 needs to be consolidated/cemented before a move higher.

Let's see where we are at the end of the week.

F4T

not TA of course but possibly a lot of PIs only now waking up to how close IS was/is to GKP's major oil field...

F4T:

"A close above 72.25 needs to be consolidated/cemented before a move higher."

I had wondered if it made a difference that the close above 72.25 was higher than the last O trade buy. Or put another way, for a close above 72.25 to be significant does it really have to be within the trading range at close rather than above it? Thoughts?

My five penneth

If we push on from here and tomorrow head towards yesterdays high of 75.67 and close above it then we will have a possible 123 low formation with an initial target of 83.84.

Looking at the action on level 2 today there were lots of MM's activity filling quite large orders
so as long as we don't go below todays low ( would give different target) and longer term the 61 low then this could be on.

www.screencast.com/t/xTkqkkmL0hc