Skip to main content

KOSPI forecast for coming week ended 20th July, 2012.

Last week I was talking that if KOSPI drops below 1850 level then chance of triggering the bullish pattern is less but that not means it will be strictly following the reverse symmetrical triangle. Because that demands little more downside where as its yesterday’s close was better from its earlier days. Yet I want to wait couple of days more to make a decisive call. If we consider that this is the base in the downside for now then we may expect more moves in the upside in coming days, provided it breaks 1850 level convincingly. In the upside if KOSPI breaks 1900 level then it can trigger the bullish pattern which I was talking during last few weeks.
Last week I was talking about different options in the downside, now beside reverse symmetrical pattern it makes another short-term bearish pattern which can take it towards 1700 level but it needs some more time because there is a chance of making lower highs and lower lows.
KOSPI is in a vital position but as technical indicators are suggesting over-sold position and if it follows that then we should be closely watching 1850 level if KOSPI breaks that in early days then there is a good chance of up moves, otherwise bearish options will make their way.



NOTEPlease see the disclaimer of this blog.

Comments

Post a Comment

Popular posts from this blog

DAX forecast for coming week ended 15th March, 2013.

This week was very good for Dax, though it is getting resistance at 8100 range. Now it has a chance to test downside again. I think even if Dax tests lower levels, it has more chance to bounce back from around 7800 range and therefore it will again test upside.

On the other hand if it shows flat movements around 8000 range in initial days of the coming week then there is a chance that it may take a decisive call in later days. Considering the recent trends it has the chance to test higher levels may be around 8200 but that will be a very aggressive call after taking in to account the movement from last December. I will worry about the downside when Dax will be testing levels below 7600 ranges.
NOTE: Please see the disclaimer of this blog.

Fed’s rate hike Vs Sovereign rating up gradation

Financial market is very much worried about the rate hike in US, probably this is going to come in coming December. But I think that is not going to change much of the things. Even Fed hikes rate in December it will be not so much, because we are forgetting one thing that interest rate in US is around zero so even they hike rate by 0.25-50% basis points (at most) in this year that will not be enough cause for Dollars to change their locations around the world especially markets have already discounted this coming rate hike in US.

A new disaster is coming in EU banking sector, whom to blame, big Audit firms!

First I was thinking what should be the title of this posting? Will it be good if I write that big audit firms set the time for EU bank collapse! If someone is thinking that financial crisis is over then think twice because the coming EU banking crisis is no way less than 2008 financial crisis. The time bomb will explode at some point of time in future, the time has not yet set for it. In that tsunami, forget about the smaller if any major banks collapse then I will not be surprise.