- The Kospi Composite Index hasn't traded above 2,551 for 7 months.
- The lower Bollinger Band® is currently at 2,371 while the higher band is at 2,528.45
The Kospi Composite Index is on a 3 day bullish run gaining 52.85 points (3.6%). On-trend the Kospi Composite Index closed the session yesterday with more of the same: after dipping down to 2,514.42, the Kospi Composite Index regained earlier losses and reaches 2,548.
The index has been trending positively for about a month. The Kospi Composite Index has managed to gain 12.61% so far this year despite trading at lows around 2,155.49 previously.
KOSPI Composite Index's upper Bollinger Band® is at 2,528.45, this is a slight indication of a slowdown. The Kospi Composite Index could be slowing down soon; it is getting close to the resistance line and is now at 2,528.31, only 19.55 points away. Crossing the resistance line could, however, suggest that further gains are ahead.
After posting consistent gains as part of its uptrend and being lifted by intraday sentiment, technical factors suggest the Kospi Composite Index is set for a reversal in the coming days.
Other markets are also showing gains as ASX 200 is trading around 7,310 after ending yesterday's session at 7,219 (up 1.26% today). CAC is trading around 7,395.81 after ending yesterday's session at 7,324.75 (up 0.97% today). Nikkei goes up 1.05% yesterday and closed at 27,634.