Last week I was expecting that Kospi may show good moves in later days and now after breaking 1950 it is ready for a new up move or I can say that chart says it may go up to around 2150. Though it may sound quite big for shorter-term but considering the lower lows it made in past months I cannot ruled out that prediction. But for any kind of that move first it needs to cross 2050 level convincingly.
On the other hand if it doesn’t able to break around 2050 levels and come down then I will be thinking about future bearish pattern if it tests around 1870-1880 levels. After a big move in the last day of this week I will be looking that 2050 level which now looks far easier and for any correction initial support levels is at around 1950 range.
NOTE: Please see the disclaimer of this blog.