Kospi has finished intermediate wave 2 on March 19 and it is tracing the beginning stages of intermediate wave 3 up. It seems to have finished minor wave 1 up. If this is the case, the most probable stop for the index is at 1662 to 1625 before moving up to higher levels. If prices cross up 1929, this scenario should be void as minute wave 5 could have extensions....
I could add many charts right now detailing similar themes, but this one to me is extremely telling.. South Korea is sitting on the cusp of two 30+ year long trendlines it has not broken in quite some time. These are extremely important. I wouldn't be fully surprised if we retest or don't break right away, but given the moves in global markets, it could just...
International diversification is important, but it's risky. Choose wisely. Here's a hint: India is debt China is lender Toxic Growth
This index is an obvious sign of a looming world recession. It continues to show lower highs and a steep decline.
The Korea Composite Stock Price Index is currently on a 5 week bullish streak (5 green 1W candles in a row) approaching the overbought zone on 1D (RSI = 70.924). The important development on the 1W chart though has been the Death Cross formation (MA50 below MA200) earlier this June. This is generally a bearish signal but last time that happened in February 2009...
Korea V.S. Japan - This influenced Kospi going to underground but history repeats itself: Bounce at round price(1900) No need to Worry Aim 2000
With Elliott wave theory
KOSPI is still in down trend. KOSPI is still downtrend since Jan. 2018. It is now try to go up after touching the 2000 strong support line. In the view of long time frame, it is almost converged so that it is going to show its direction soon. Indicators says: MACD shows dead cross and fail to break zero so that it shows downtrend. However, the RSI is getting...
Aim for the red box. time segmented volume is signaling momentum reversal.
TP1 : 2090 TP2 : 2120 SL : 2030
The Seoul index is approaching the multi year Higher Low Support Zone on 1M, which has just turned bearish (RSI = 41.949, MACD = -21.310, Highs/Lows = -101.3235). This creates the optimal conditions for a long term quarterly buy opportunity. Based on previous similar candle patterns, the rebound is expected to go as high as +17.45%. Our target for the next three...
KRX:KOSPI is looking pretty bad. The overall chart looks bearish and the fundamentals are not getting much better. The uptrend stops reaching the red resistance channels which is another bearish indicator. Sell-Signal: There are multiple reasons why we are going short, once the purple line is crossed and the price is stagnating in the red zone. The red zones...
If one is to believe that Chinese growth will continue to slow as is my bias, then you better believe that's terrible for South Korean equities. Today, its the worst performer of all Asian markets so far this afternoon. Overall, no major signals from the oscilators, but I won't be sad if I lose 5 percent on this trade as it fits with my fundamental macro view. See...
EN1 : 2177 EN2 : 2217 TP1 : 2177 TP2 : 2122 TP3 : 2067 SL : 2257
TP1 : 2065 TP2 : 2038 SL : 2150