Korea KOSPI Comp Index Daily (29.06.2014) Technical Analysis

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The Korea KOSPI Index (Kospi) Daily Diagram Technical Analysis Training shows the following:

The Kospi index has followed a long trend in something like ascending triangle above the KUMO cloud, but under the Kijun Sen(blue line) resistance last week. The support line tries to get itself above the KUMO but not yet (if it happens it will be clearly bullish ). The monthly diagram is neutral but the weekly diagram shows a weak uptrend.

So the first think in mind is that Kospi tries to make an uptrend movement if it can beat the Kijun Sen(blue line). As you can see Kospi has react before 6 days on the support line, that means that is long term strong support. MACD is neutral and RSI too.

On candlesticks pattern we have a pseudo (because if intraday high) Harami pattern (that means that the uptrend is weakening). The index is above the KUMO ( bullish ) but under the Tenkan Sen and Kijun Sen too ( bearish ).

There is no special pattern. There is no fib measurements.

So I think that even if the index is above KUMO it will test it at 1978 because of the Harami pattern in short term. After that I think that it will react toward Kijun Sen. Stop loss Under the KUMO at 1964.
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