Technical Forecast for Kospi

Kospi very volatile in the last few sessions as we attempted a break above the 200 day moving average at 257.60 but could not sustain this. We could start to head lower again in to the end of the week with 254.85/55 as 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. Exit shorts & perhaps try longs but we need stops below April lows at 246.90.

 

A break above yesterday’s high looks unlikely but could target 259.20/30 if seen & possibly strong resistance at 260.40.