GKP - Research

Hi KK,

no change in my thinking from my last post. There wasn't much trading over 83 the other day, so that held for me.
I expect a retrace of at least 50% of the rise, so minimum to 64 which is also the 50SMA and probabaly to the 20SMA at 59/60. I am not a follower of EWT (but like to see it), so your wave count looks good to me.

I would like to see 50 tested again, but that is just me.

I do think that the bottom is in though.

Bearish harami yesterday gives you the hint of what's to come.

GL
F4T

F4T - What you thinking?

Thanks in advance!

F4T - Cautiously bullish, there seems a clear count up and maybe now it's due a correction for wave 2... But that's only if the count down is right and the bottom is in. So could be the classic case of sell before news, as it could well be pretty much priced in after the 100% rise. I'm guessing something like this....though maybe the count could be wrong?! Dunno. Need to see tomorrow's price action as I'm sure it will be telling - ready for the 13th.






screencast.com/t/F79ilHjSUVRc

P.S - I can't mention the reversal pattern.

I feel more like a koala with a nose ring

I see that all the GKP bears are now bulls!

My fib chart......


dl.dropboxusercontent.com/u/7238706/Gulf...td%20%28daily%29.png
(click on the chart or the link for an expanded view)

............. where it looks like £1 will be the first significant number.