- Market bulls strengthened by lower Bollinger Band® currently at 2,402
While the Kospi Composite Index was in the midst of a 10 day downtrend— in which it lost a total of 1.86%— A possible reversal detected from yesterday; the Kospi Composite Index increases 0.62% to close at 2,428 yesterday.
The index has been trending lower for about a month. This year has been a bright one for the Kospi Composite Index after trading as low as 2,155.49 and going on to appreciate by 7.89% year to date.
KOSPI Composite Index's lower Bollinger Band® is at 2,402, indicating that the market is oversold and fertile for new buyers.
Examining the technical analysis landscape, the Kospi Composite Index might continue its downtrend in the short term.
The Kospi Composite Index shows positive signs, other assets are also on par: FTSE is trading around 7,915 after ending yesterday's session at 7,876.28 (up 0.49% today).
Meanwhile, after ending yesterday's session at 20,620, Hang Seng lost 145.68 points and is trading around 20,474. Nasdaq lost 0.66% yesterday and closed at 11,456.