The daily Elliott Wave chart of the KOSPI Composite shows a bullish trend. The index is moving impulsively, indicating strong momentum. Navy Blue Wave 1 is currently active, developing within the broader Gray Wave 3.

The completion of Gray Wave 2 marks the start of Navy Blue Wave 1, suggesting a new upward leg in the trend. The next expected movement is Navy Blue Wave 2, which typically follows Wave 1 as a corrective pullback before resuming upward movement.

The key level to monitor is 2280.59. A break below this would invalidate the current count and require reassessment. Unless breached, the pattern supports a continued uptrend.

The technical setup indicates KOSPI may experience continued gains. The impulsive structure reflects strong buying activity and supports a bullish outlook as Gray Wave 3 progresses.

KOSPI Composite Elliott Wave technical analysis

Function: Bullish Trend.

Mode: Impulsive.

Structure: Navy Blue Wave 1.

Position: Gray Wave 3.

Direction next lower degrees: Navy Blue Wave 2.

Details:

Gray Wave 2 has likely ended. Now, Navy Blue Wave 1 of 3 is advancing.

Wave cancel invalid level: 2280.59

The weekly Elliott Wave analysis confirms the bullish trend in KOSPI. With impulsive movement active, Navy Blue Wave 1 is forming within Gray Wave 3. This setup signals the beginning of a potentially large new uptrend.

The completed Gray Wave 2 confirms the transition into Navy Blue Wave 1. This phase is usually strong and fast-moving. Once Wave 1 completes, Wave 2 is expected as a corrective phase.

A critical level to watch remains 2280.59. Falling below it would void the current analysis. Until then, the trend favors continued upward development within Gray Wave 3.

The chart suggests a solid uptrend may be underway. Robust institutional interest and impulsive price action support the case for sustained gains in the medium to long term.

KOSPI Composite Elliott Wave analysis [Video]

Author

Peter Mathers

TradingLounge

Peter Mathers started actively trading in 1982. He began his career at Hoei and Shoin, a Japanese futures trading company.

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