GKP

dl.dropboxusercontent.com/u/7238706/GULF%20KEYSTONE.png

Whilst I see and appreciate the short-term trade off the support at 175, I see this going to the 165/166 to complete a possible wave 4 before heading back toward 204.74 and wave 5.

This broke the trend line in the first hour so no positions was taken
Its a clear break and if it stays below the trend line by 4.30pm then lower prices may follow.


dl.dropboxusercontent.com/u/4899609/gkp28thaug.png

Looking very weak. Close below 175 and all supports and RSI support also broken. 166.50 looking likely now.

I think at this stage of the game we have to remember that there is likely to be sudden unforeseen price movements due the judgement filtering through any day now.

Interesting times / price action ahead no doubt.

Personally, i am waiting for the Golden Cross to be fully activated in the coming weeks.

A finish above the trend line and the trend line will have to be redrawn. As the bulls would be back in control.


dl.dropboxusercontent.com/u/4899609/gkp29thaug.png

dl.dropboxusercontent.com/u/7238706/GULF%20KEYSTONE2908.png

This may now be on the up for the reasons stated on the chart. Obviously not a definite and it could still drop to 165ish so DYOR.