Korea is highly cyclical and a decent "canary in the coal mine for" a) the Semi Cycle, given the size of Samsung Electronics in the index and b) the global manufacturing cycle.
Watch for a double top.
This is not investment advice, I am not a licensed advisor and you should always do your own work or seek professional advice.
The Korean Index is consolidating the last 44% gain it made in the last quarter of 2020.
This consolidation is very well defined inside a downtrend channel. I am positive if it breaks it. It could be the start of another leg up.
As long as it stays in the that area, I am neutral.
Next support around 2800. That would be ~50% fibo retracement of the previous...
this is my bullish technical idea and price action analyze . now wait for come previews support and resistance zone after trend continue to uptrend you can entry .because overall uptrend .you can see it .however this is my opinion only no more signal
📌 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...
KOSPI Composite index (KOSPI) is in perfect impulse cycle in 4 hr time frame made from the bottom made in Corona Pandemic. The fifth wave is in ending diagonal structure, which should probably result in sharp decline. So stay bearish with stops above 2240 from current level as 2nd wave of A in ABC zigzag cycle. This is the perfect set up as world market also in...
Here are the levels I believe KOSPI will converge to in the near future
Level 1 = around 2100
Level 2 = around 1960
Level 3 = around 1860
With the short ban in place until November 2020, it will be difficult to see the index fall below 1860, or even 1960.
However, we need to watch out for second wave of COVID-19.
Just a reminder that Korea is a nation with the...