KOSPI failed to react on its bullish pattern this week, as it followed the global trend. More it takes time to react on this type of very short-term bullish pattern, there is less chances of its success. Though it looks slightly over-bought but still it has a chance to go up.
On the other hand the chances of any other bearish patterns are still open for it. In case of reverse symmetrical pattern its upper boundary will be below 1900 level and in the downside expected range will be around 1700–1750 level. If KOSPI is following the bearish trend then there is more chance that KOSPI will drop in coming days.
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 about this bearish pattern.
NOTE: Please see the disclaimer of this blog.