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KOSPI forecast for coming week ended 15th February, 2013.

Last week I was emphasizing on 1940 support level in the downside and its last day was better this week. So the chance of reversal is there but it may not come in initial days of the coming week, in fact it may show couple of flat early days. During last few weeks, Kospi is following a bearish trend and unless it shows definite sign of breaking that it is hard to predict for sure. Last time it went around 1860 but that not means this time Kospi will again follow that. If somehow Kospi drops below 1920 then 1900 will act as a good support.

On the other hand if Kospi stays above 1960 (or does not drop below around 1950) in early to middle days then we may expect better days in future but unless it is breaking resistance of around 1970–1980 level, I am not much optimistic about it. I am still maintaining my medium to long-term stand on Kospi, if it able to break 2000 level then we may see a new trend. Here I must say that Kospi is maintaining higher lows from last July, which is also supportive for that.

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