In today’s briefing:
- The KOSPI Is Not Out of the Woods: WEEKLY Overbought Model Suggests an Impending Pullback
The KOSPI Is Not Out of the Woods: WEEKLY Overbought Model Suggests an Impending Pullback
- The KOSPI 200 INDEX has interrupted its rally in July 2024 and it may appear ready to restart rallying, however in the very short term we have 2 possible scenarios.
- SCENARIO 1: the index may rally a bit higher, towards 356, but it would be quite overbought, like >85% probability of reversal.
- SCENARIO 2: the index could pullback at the beginning of the next week (or before this week’s end), and then, after a modest pullback, start a longer-term uptrend.
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