GKP

To be balanced, there's a possibility that it's a bear flag that's forming despite the bullish candles.

Just thought I'd throw that in for fun as Devil's Advocate!

Any other views?

Could take an entry on a 50% retrace or break of the high. Obviously the safest entry is above Monday's high.

M.

Meanwhile...



Bullish no?

Spot on Jackozy re: CC etc. There is no place for positive bias or emotional attachment in trading / investing, especially on a pro-technical site as it may influence others to risk funds that they do not have. Some never learn.

Jackozy wrote: Hi B77,

I'm a little concerned about the weakness since 178p, yes. There's now a possibility of a negative RSI divergence at that price though, like most things in GKP's chart, it's not clear.

As far as Dec 13th is concerned, the assumption among investors will be that an appeal will be refused but that may not be the case. In any event, news of the original court case victory didn't do many favours so I think it's dangerous to make assumptions regarding either the outcome of the hearing or, indeed, the impact on the SP either way.

A good place to go long for today is 158.9. This is where the new up trend line is for today. This is drawn due to the down trend line being broken recently. Stops are below 153 so small risk.


dl.dropboxusercontent.com/u/4899609/gkp3rddec1.png

Hi B77,

I'm a little concerned about the weakness since 178p, yes. There's now a possibility of a negative RSI divergence at that price though, like most things in GKP's chart, it's not clear.

As far as Dec 13th is concerned, the assumption among investors will be that an appeal will be refused but that may not be the case. In any event, news of the original court case victory didn't do many favours so I think it's dangerous to make assumptions regarding either the outcome of the hearing or, indeed, the impact on the SP either way.