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

Kospi was unable to break its January high. This week it reflects nothing, now I will be looking at around 1990 because it has a chance of making very short-term bearish pattern and if that pattern works out then Kospi may test below 1980 range in coming week. I am not much worried about this very short-term bearish pattern because sometime they do not work; I am more concern about medium-term bearish pattern which kospi has a chance of making if it tests below 1940 ranges. Higher bottoms which Kospi is making during last few months indicate that Kospi may not test that much low, so I will think about bad things when Kospi will be breaking 1960 range.

As this medium-term bearish pattern is not clear yet so for coming week concentration will be on 1990 range. If kospi maintains that then it has the chance to test levels above 2020. I think that if Kospi able to break 2020 then it has good chance to test ranges above 2040, I am still maintaining my earlier stand that if Kospi maintain these ranges then it will start a new uptrend from here.

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