Market Overview

Technical Forecast for Kospi

Technical Forecast for Kospi


Kospi very volatile in the last few sessions as we shot high beating resistance at 254.56/87 to reach 256.80/257.20 which did just about hold the topside as hoped. However a break above the 200 day moving average at 257.60 could target 259.20/30 & possibly strong resistance at 260.40.
25485/55 is immediate support then 253.35/25. Below here look for 251.80/65 support & then 249.66/248.80 where we meet the 18 month trend line & we should look oversold in the short term at this stage so it may be wise to exit shorts & perhaps try longs. We need stops below April lows at 246.90.

The preceding article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

Posted-In: Technicals Markets Trading Ideas


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