📌 The beauty of Korea is revealing itself right on time... the breakout is difficult to maintain as can be seen on the yearly close, the slingshot which turned out to a correct play for buyers has unlocked the potential for a major rally in 2021. Capital has its eyes on Korea (and a few others) for the advantage in its currency (KRW) and economic mobility across...
Technical analysis does not depend on the market, it does not depend on the historical era, it does not depend on any kind of factor other than human emotions that are always repeated on the basis of fear and greed.
That's why we often find very similar patterns, that if exploited in a systematic way, you can accumulate wealth over time.
Then we for an...
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...
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.
MACD shows dead cross and fail to break zero so that it shows downtrend.
However, the RSI is getting...