After the Bell Technical Review | The Kospi Composite Index maintains neutral outlook despite shedding 1.84% yesterday

• The Kospi Composite Index's nearest support level is at 1,607, followed by 803.53 at the next level.
• A crossing of the lower Bollinger Band® at 2,380.58 suggests further losses may follow for the Kospi Composite Index.

The Kospi Composite Index has lost 4.3% over the last 6 days. Yesterday's session continued the recent downtrend: the Kospi Composite Index dropped 44.4 points early on and stayed at 2,366.2.

The Kospi Composite Index has managed to gain 7.79% so far this year despite trading at lows around 2,155.49 previously.

Trend and momentum analysis indicates that despite being in the red so far in the current trading session, KOSPI Composite Index peaked above its 200 day Simple Moving Average around 2,411.72 — typically an early indicator of a new bullish trend beginning to emerge. According to asset volatility analysis, the Kospi Composite Index has just crossed the lower Bollinger Band® at 2,380.58, indicating further losses could be forthcoming. Visual analysis of the Kospi Composite Index's chart shows that the Kospi Composite Index's nearest support level is at 1,607, followed by 803.53 at the next level.

All in all, the technical analysis suggests the Kospi Composite Index has no clear-cut direction.

In the meantime, negative performances are also seen in other markets, DAX lost 3.04% yesterday and closed at 15,428. After ending yesterday's session at 7,220.67, CAC lost 209.17 points and is trading around 7,011.5. FTSE lost 2.58% yesterday and closed at 7,748.35.