Bearish the Kospi Composite Index dips below key support at 2,385 but bounces back 9.69 points later in the session

• Key support at 2,385 holds firm despite apparent early break
• Falling prices have precipitated the Kospi Composite Index's approach to its lower Bollinger Band® at 2,389

Over the last 5 days, the Kospi Composite Index has fallen 3.15%. More of the same from yesterday's session: overall, the Kospi Composite Index shed around 24.41 points or 1% and ended yesterday's session at 2,394.59.

The Kospi Composite Index has gained 7% since its lowest print of 2,155.49 earlier this year.

KOSPI Composite Index reversed direction at 2,385 support zone and climbed 9.69 points above it. Despite being in the red so far in the current trading session, the Kospi Composite Index peaked above its 50 day Simple Moving Average around 2,400.63 — typically an early indicator of a new bullish trend beginning to emerge. Bollinger Bands® shows an indication of recovery: the lower band is at 2,389, a low enough level to, generally, suggest that the Kospi Composite Index is trading below its fair value.

Technical analysis shows that the Kospi Composite Index (currently on a downtrend) might reverse course and start going up in the short term.

In the meantime, negative performances are also seen in other markets, ASX 200 lost 2.28% yesterday and closed at 7,311. Hang Seng lost 3.04% yesterday and closed at 19,926. FTSE falls 1.67% yesterday and closed at 7,880.