Last week I said that if Kospi goes below around 1900 then there is a chance of forming bearish pattern, after this week’s movements that fear looks close.
Though the bearish pattern I am talking about is not completely clear yet but there is a probability. We have to wait for more time to get an indication but even if Kospi goes down from here then a small reversal may come, in fact if that bearish pattern is true then that demands a reversal in the upside but that is not definitely above 2000 levels.
Last few days were not good for kospi, though close was better in the last day and looks like it is making a base. But this guarantees nothing because Kospi is not giving any strong figure. Now I will again think about testing 2000 level when it will able to break around 1980 levels in the upside. I will think about a new bull movement for Kospi when it will give stronger moves above 2050 range but for that first it has to break 2050 level in the upside.
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