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KOSPI forecast for coming week ended 14th December, 2012.

Last week I was expecting small corrections in earlier days for Kospi to make a good bullish pattern but it maintained 1920 levels. Last few days were good, now Kospi is getting resistance at around 1960 range. The medium-term positive pattern is not so sound but if it reacts fully then we may see Kopsi to test around 1980-2000 levels. Here I must say that if Kospi tests around 2000 level in coming future then it will be good for Kospi in long-term perspective because in that case Kospi will create long-term bullish pattern.

It looks like that Kospi broke the lower high and lower low trend but the bearish pattern is still on for Kospi and so long it does not cross around 2000 levels in near term, that option will be there. I want to give more emphasize on this bearish pattern when Kospi will break around 1860 ranges but for that it has to first break its good support of 1900 levels. Where as its initial support will be around 1920-1930 levels.


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