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 KOSPI (SEOUL.NDX) - Close: 1 991.54 (-28.55), Oct 1, 2014

Chart Technical Analysis KOSPI (SEOUL)

 Negative Candidate (Score: -62)
-Overall analysis, Oct 1, 2014
Analysis Explanation
KOSPI is technically negative for the short, medium, as well as the long term.

 Weak Negative Candidate (Score: -49)
-Short term
KOSPI has broken the falling trend down. This signals an even stronger falling rate, but the negative development may result in corrections up in the short term. It also gave a negative signal from a head and shoulders formation at the break down through the support at 2026. Further fall to 1988 or lower is signaled. The index is testing the support at points 1988. This should give a positive reaction, but a downward breakthrough of points 1988 means a negative signal. The index is overall assessed as technically slightly negative for the short term.

 Weak Negative Candidate (Score: -28)
-Medium term
KOSPI has broken through the floor of a rising trend channel. This indicates a slower rising rate at first, or the start of a more horizontal development. Has met the objective at 2078 after a break of a inverse head and shoulders formation. The price has now fallen, but the formation indicates further rise. The index has broken down through the support at points 2010. This predicts a further decline. RSI is oversold. The index can still fall further, and we should see an increasing RSI before this is used as a positive signal. The index is overall assessed as technically slightly negative for the medium long term.

 Weak Negative Candidate (Score: -46)
-Long term
KOSPI is within an approximate horizontal trend, which indicates further development in the same direction. Is moving within a rectangle formation between support at 1796 and resistance at 2066. A decisive break through one of these levels indicates the new direction for the index. The index has broken down through the support at points 2050. This predicts a further decline. Volume tops and volume bottoms correspond well with tops and bottoms in the price. This strengthens the index and increases the chance of a break up. The index is overall assessed as technically slightly negative for the long term.

1 day-0.54%0.00-1.41%
5 days0.001.79%0.00-2.17%
22 days0.004.42%0.00-3.72%
66 days0.008.18%0.00-0.53%


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