Three markets to rule them all
South Korea is cautious, but not overly concerned. China is also sanguine, while oil - the global barometer of risk - is running its own race.
Add BT as a preferred sourceTHE world waits on another missile launch from North Korea and another Twitter launch from the US. The spread of risk in markets does not seem to reflect the same level of concern. South Korea, a market with perhaps the most to lose, is cautious, but not overly concerned. China, at risk of being dragged into a conflict, is also sanguine. Oil, the global barometer of risk is running its own race.
The Kospi trend remains astounding and despite the pullback, the trend strength remains intact. The Kospi is analysed using trade band analysis. The width of the prolonged sideways trading band is measured, and this value is projected upwards to give the breakout targets.
The most optimistic chart-based targets have been achieved with the index above 2,230 and 2,400. The same trade band projection methods can be applied to set the next upside target. This sets a target near 2,560. This is a very optimistic target and despite the trend strength, it is unlikely that this target will be achieved quickly.
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