GKP - Research

Hi orsotoro, another interpretation is that we already just witnessed the 123 low complete.
Starting with the bottom 42.25, we have 1 = 57.75, 2 = 49.10.
screencast.com/t/N2T6AZY7jE

The set-up looks like this to me:

Low of 42.25, breakout of downtrend Wednesday with 64p finish, and then rise to point 1 at 76p yesterday. Now awaiting another low, obviously above 42.25, to confirm point 2. The buy-in point 3 will then be a break above 76p.

You may be right F4T you usually are but a new bit of news came in this morning stating the approval of the FDP for Akri-Bijeel field run by MOL that can also be seen as positive. So might run on to the 80's but will keep close eye.
As Jackozy once interestingly stated, its surprising how often facts seem to eventually follow the TA predictions and thus belatedly justify the rise.

Will post a chart with my thoughts over the weekend as busy this week.

That's enough for me. 73.75 is the next resistance after 61. Nice run but I expect a retrace. Fast rise often leads to a fast fall.
GL all
F4T

uk.advfn.com/p.php?pid=chartscreenshotsh...ug%3D&symbol=L%5EGKP

If this can close above the 50 day ema @ 66p, it should go on to at least test the main trendline @ around 83p imho

Regards,
Trendfriend.