![](https://cdn.steemitimages.com/DQmSDzi49uiibLcNYvqyJ9ZnQ3UhaMBW5tBUGz3q3rCa2A3/image.png)

The daily chart on the KOSPI sports a lovely looking inverse head and shoulders that formed with bullish divergence to add weight to the strength of the pattern.  Taking a look at the weekly chart below shows the pattern also happened to form as price retested the 2011 high, a level that was only broken above 6 years later in May of last year. Whilst yesterday's price action moved back below the neck, the pattern is not invalidated until it moves below the right shoulder at 2,264.9. A move below that level would have significant bearish implications. However, should price move back above the neckline and make a new swing high, it would likely mark the end of the downtrend off the January high and present plenty of upcoming bullish trading opportunities.


![](https://cdn.steemitimages.com/DQmcdKuD5SgDN66nqVSzXqGRaJvCLUNDMytW6sZz5mQCZ9B/image.png)