Technical forecast for Kospi

kospip

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.

Jason Sen began his career in the options pits on the trading floor of LIFFE in 1987 at the age of 19, making markets on his own account. In 2001 when the trading floor closed he successfully made the transition to day trading on computer screens. Jason always had an interest in technical analysis throughout his trading career but began to study this area in depth from 2006. www.daytradeideas.com has established itself as the leading provider of... More