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KOSPI forecast for coming week ended 3rd August, 2012.

As per expectation kospi dropped this week, little more corrections would be perfect. Later days were better but unless it beats 1850 level, I am not seeing much hope. In fact let it first cross the 1830 range convincingly. In the upside, for bullish pattern the important level is at around 1900.

During last few weeks KOSPI is making lower highs and lower lows so if it continues that then there is a chance that KOSPI may not go up much and it may start dropping to prove its bearish pattern completely. The pattern demands KOSPI to go around 1700 level but considering the average outcomes it may be less. Therefore it is important for KOSPI to stay above 1800 level in earlier to middle days of the coming week so that it can avoid more corrections.

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