GKP - Research

Could it be setting up a 1, 2,3 breakout...with the "1" being the 80+ 0n 10th Nov, the "2" being the retest of 50p 15th December....a break of the 85p line (finally) would confirm?

i13.photobucket.com/albums/a272/ademcg/GKP22Dec.jpg

uk.advfn.com/p.php?pid=chartscreenshotsh...M1xc=&symbol=L%5EGKP

Looks good to me.... a close above those moving ave's @ 65/66p area, should mean this will push on imho....

Regards,
Trendfriend

Hey y'all,

Not really been much to talk about here as oil has been tumbling at such a rapid rate. I did scale in long from 54 - 49p with average of 52p for a little flutter on a spread bet, sold out for all of 1.75 pips as I had to go out this morning! LOL! I could have taken 5! Hardly beer money!!! It broke a small wedge to upside today which I'd been watching. CAO (Awesome oscillator) indicator has now gone red confirming the wave 2 proper, which I'd mentioned previously, doesn't mean it can't re-test lows though if the downward spiral of oil continues, but makes more sense now from an EW perspective...With a bounce of oil or continued positive news flow, I don't see why we couldn't kick off wave 3, depends on your risk appetite, but I was happy scaling in at these prices - gap left behind so it's a wait and see really, but if the bottom is in, wave 3 is gonna be a nice ride up, just a question of when? Not long though me thinks - unless it puts in a new low and then I'll need some new crayons for Christmas!!

This is the charts of crude light oil,
This is just heading towards its normal trading area so people should not be shocked by this.
Hopefully petrol prices should come down at the pumps to help out everyone even thou its all tax.
Its funny how prices at pumps drop so slowly yet when crude rises it moves fast at the pumps.
i remember when crude broke 100 dollars a barrel and price of a liter of petrol moved above £1 a liter. now its at 50 dollars a barrel and price of fuel is at £1.20 a liter so its obvious we are all getting robbed at the pumps by the governments.


weekly chart

dl.dropboxusercontent.com/u/4899609/crude15thdec2014.png

daily chart

dl.dropboxusercontent.com/u/4899609/crude15thdec2014daily.png

No point unless crude has bottomed.

Thanks Ian.

Would you buy if the price reached 42p or not even then?