Technical Review | Bearish momentum dwindles as the Kospi Composite Index readies for reversal

• Falling prices have precipitated the Kospi Composite Index's approach to its lower Bollinger Band® at 2,401.66

While on an 8 day downtrend, dropping a total of 2.88%, More of the same today: the Kospi Composite Index ended Friday's trading session by losing 0.87% and is now trading at 2,402.64.

The index has been trending lower for about a month. The Kospi Composite Index has managed to gain 8.37% so far this year despite trading at lows around 2,155.49 previously.

Bollinger Bands® shows an indication of recovery: the lower band is at 2,401.66, a low enough level to, generally, suggest that KOSPI Composite Index is trading below its fair value.

Technical analysis indicates that the Kospi Composite Index (currently on a downtrend) might reverse course and start pointing upward in the short term.

In the meantime, negative performances are also seen in other markets, ASX 200 is down 82.2 points from the beginning of the session and now trades around 7,224.8.

Other assets are showing positive performances as CAC added 1.76% to its value, now trading at 7,313.61. EuroSTOXX climbs 1.89% to trade around 4,258.