Keates, who saw the Saddlers fall behind to Lee Novak's strike early in the second-half, was relieved as his side were able to level the scores shortly after the hour mark but insisted that they should have taken all three points after creating a raft of goal scoring opportunities.
Speaking via the Express & Star, Keates said; "It was an encouraging performance - we asked them to play on the front foot and be bright and the players did that. We went in at half-time and I think it's fair to say we could have been a couple of goals up.
"But we got caught second-half. That is something we are going to have to look back at and learn from. But credit to the players, we showed great character and we played well. We should have won the game. We had a few set-pieces, a few chances where it just didn't fall for us.
"But give the lads credit because they kept going. It would have been very hard to take if we didn't take anything from the game. We are happy with the performance."