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Kospi Forecast for 3rd June 2013

By () · June 2, 2013 · Comments Off on Kospi Forecast for 3rd June 2013
Indices · analysis, binary option, buy sell, candlestick, charts, day trade, day trading, down trend, fibonacci, forecast

Kospi tested Fibonacci resistance at 263.50 where we advised to exit longs & try shorts with
stops above 264.20. This trade worked nicely as we topped at 263.90 & drifted back to support at 260.87. We have further support down to 259.80 today so watch for a break below 259.00 today to signal continue losses to the 200 day moving average at 258.29 & possibly a move as far as 257.50/40 this week.

263.56/90 remains strong resistance & a selling opportunity this week. However we then run in
to 5 month trend line resistance at 265.20 so only above here opens the door to further gains this week.

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