Kospi is threatening to make a medium term bearish pattern, now if it goes below around 1880 then that fear will be more.
But even if it tests 1880, it may take more time to react on that bearish pattern. Last week I did not able to give my predictions but in the last week Kospi’s movements of making lower highs and lower lows are indicating that it may drop more. In fact it is trying to break an upward trend line which it was following during last few months.
Though it has a chance to come out from this bearish atmosphere but that will be only when it will break 1950 level convincingly. In fact I will think about a new short-term bullish pattern if Kospi is able to break around 1960 level but this is in early stage. If we consider that kospi is in medium term bullish phase then that lower highs and lower lows may be indicating future upward movements.
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