Market Overview

Technical Forecast for Kospi

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.

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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