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April 11, 2023- 2,531.71 is the Kospi Composite Index's highest rate in 7 months.
- Upper Bollinger Band® currently at 2,524
The Kospi Composite Index is on a 3 day bullish run gaining 52.85 points (2.95%). On-trend the Kospi Composite Index closed the session yesterday with more of the same: the Kospi Composite Index recovered from the previous trading session's losses and went up to 2,531.71 yesterday after it traded lower at 2,514.42.
The index has been trending positively for about a month. This year has been a bright one for the Kospi Composite Index after trading as low as 2,155.49 and going on to appreciate by 12.61% year to date.
KOSPI Composite Index's upper Bollinger Band® is at 2,524, this is a slight indication of a slowdown. The Kospi Composite Index could be slowing down soon as it approaches resistance at 2,528.31. Of course, crossing it might suggest further gains are ahead.
Despite basking in an uptrend and bullish intraday sentiment, chart analysis indicates the Kospi Composite Index is set for a reversal in the coming days.
The Kospi Composite Index shows positive signs, other assets are also on par: ASX 200 went up by 1.36% yesterday, and closed at 7,317.2. FTSE climbs 1.03% yesterday and closed at 7,663. Hang Seng is trading around 20,567 after ending yesterday's session at 20,275 (up 1.44% today).
