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June 20, 2023- Next support is currently 6.46 points away at 2,598.45
The Kospi Composite Index's downtrend has seen it decline 1.37% in 7 days More of the same from yesterday's session: the Kospi Composite Index dipped as low as 2,596.82 before recovering some lost ground. However, the rebound failed to push the stock to where it started the session (2,602.83) with the Kospi Composite Index closing the day at 2,605.
The index has been trending positively for about a month. Having set a significant high of 2,641 11 days ago, the Kospi Composite Index is trading 1.2% lower.
A study of the Kospi Composite Index's historical price actions shows KOSPI Composite Index could begin to recover as it approaches significant support, now 6.46 points away from 2,598.45. Dipping below could be an indication that further losses are ahead.
In the meantime, negative performances are also seen in other markets, after ending yesterday's session at 19,900, Hang Seng lost 279.08 points and is trading around 19,621. After ending yesterday's session at 13,783, Nasdaq lost 82.8 points and is trading around 13,700.
Positive performances can be seen by looking at other markets as notably, ASX 200 rose 0.86% yesterday and closed at 7,295.
Upcoming fundamentals: South Korea BOK Financial Stability Board Meeting Minutes is scheduled for tomorrow at 01:00 UTC.
