KOSPI (SEOUL.NDX) Close: 2 205.44 (-4.02), Apr 28, 2017

Chart Technical Analysis KOSPI (SEOUL)

rsi chart
 Positive Candidate -Long term, Apr 28, 2017Analysis Explanation
KOSPI has risen up towards the ceiling of an approximate horizontal trend channel. A continued development within this trend channel may be expected and the current price level may be a good exit price. Is moving within a rectangle formation between support at 1768 and resistance at 2330. A decisive break through one of these levels indicates the new direction for the index. Has given positive signal from a rectangle formation by a break up through the resistance at 2116. Further rise to 2246 or more is signaled. The index has broken up through the resistance at points 2170. This predicts a further rise. In case of negative reactions, there will now be support at points 2170. Negative volume balance weakens the index in the short term. Trading volume has increased substantially lately. This shows there is an increased interest for the index, possibly because of fundamental news. The index is overall assessed as technically positive for the long term.

1 day-0.50%580.04-0.18%
5 days40.951.66%727.09+1.87%
22 days-27.064.03%834.65+1.77%
66 days-15.907.10%781.79+6.76%
Trend 1%1861.18 - 2224.78
Double Top Pattern2013-04-05


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