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KOSPI forecast for coming week.

KOSPI maintained 1750 level and it close almost flat this week so there is not much change in my views about it for coming week.
Last few days movements are making me to think about a positive pattern. In coming days if it does not drop below around 1776.85 (or even from 1835 level) then it has a good chance to test higher levels, may be around 1950. But for any up moves it needs to cross 1850 level convincingly.


On the other hand it has a chance to move inside a reverse symmetrical triangle (if not any other bearish pattern, which is not clear now!), in this case the upper boundary will be below 1900 level for now and in the downside it may test lower levels. Things can be worse for KOSPI if it breaks 1650 level in the downside.

KOSPI is making a medium to long-term bearish pattern and unless it crosses 2050 level in the upside I will not change my stand on this bearish pattern.

NOTEPlease see the disclaimer of this blog.

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