Saturday, December 28, 2013

Future of Korean KOPSI.

Kospi is still in the same spot which I have specified in my last posting. 1980 level is a good support for coming week and there is a good chance that it may bounce in the upside from that level. But if Kospi breaks around 1950-60 ranges in the downside then it will be not good for it, as there is a chance of creating a bearish pattern.

In coming week if Kospi breaks 2000 ranges in the upside then it will try to test 2050 range which it failed to break in last two years. But unless Kospi is breaking 2020 range in the upside or at least give us a sign that it is going to stay above that range we may not see a better environment and for this I think it is better get full confirmation in this higher level.

Last time I was talking about an upward channel and since it does not break that level completely so I am still maintaining my view of starting a new uptrend if it breaks around 2050 level.

NOTE Please see the disclaimer of this blog.


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