• Fri
  • Dec 26, 2014
  • Updated: 6:03pm
Chart Book
PUBLISHED : Friday, 01 August, 2014, 1:03am
UPDATED : Friday, 01 August, 2014, 1:03am

Chart of the day: Kospi climbing higher

BIO

Nicole Elliott is a technical analyst with 32 years experience of financial analysis working for some of the world’s biggest investment banks. Her key expertise is in foreign exchange, interest rate products, bullion, indices and commodities markets. Nicole is a regular TV commentator on financial markets and has authored books on technical analysis for financial professionals. She has a BSc from the London School of Economics.
 

The rally for South Korea's benchmark Kospi share index this week has helped fuel a rise in the broad MSCI Asia index to its highest in more than six years. Technical charts indicate that this important break higher will be sustained. Right-angled triangle patterns most often indicate the continuation of a trend once a break is made. The Kospi's triangle has been forming since late 2011 and bursting above its top edge suggests potentially very significant gains over the long term. The record high at 2,231 set in April 2011 is a clear possibility.

Nicole Elliott is a technical analyst

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