Will KOSPI's historic rebound lead to another down fall?
Here are the levels I believe KOSPI will converge to in the near future
Level 1 = around 2100
Level 2 = around 1960
Level 3 = around 1860
With the short ban in place until November 2020, it will be difficult to see the index fall below 1860, or even 1960.
However, we need to watch out for second wave of COVID-19.
Just a reminder that Korea is a nation with the fastest recovery from the COVID-19 pandemic, showing V shaped rebound.
With the quarantine protocols for COVID-19 well established, I would definitely enter into long position starting 1960.
Level 1 = around 2100
Level 2 = around 1960
Level 3 = around 1860
With the short ban in place until November 2020, it will be difficult to see the index fall below 1860, or even 1960.
However, we need to watch out for second wave of COVID-19.
Just a reminder that Korea is a nation with the fastest recovery from the COVID-19 pandemic, showing V shaped rebound.
With the quarantine protocols for COVID-19 well established, I would definitely enter into long position starting 1960.