Saturday, February 23, 2013

KOSPI forecast for coming week ended 1st March, 2013.

It is good to see that Kospi is again testing level above 2000. During past few weeks I was saying that if Kospi breaks 2000 level then there is a good chance that we may see a new trend and the way it is making higher lows during last few months which is also supportive. In last few days Kospi is getting resistance at 2020 range though I may not ruled out couple of more moves of this type but those may have tendencies in the upside.

Here I must say that if Kospi did not break its last high of around 2040 then there is a chance that Kospi may drop but unless it is breaking 1980 range I do not want to concentrate on any bearish pattern. On the other hand if Kospi stays above 2000 level in coming week then there is a chance that Kospi may try to break around 2040-50 ranges.

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