KBANK : If the nuclear disaster escalates, a pullback to 112 may ensue
March 17, 2011 Leave a comment
A weekly close at 119 or higher would at least be something mildly positive for next week. If however it succumbs to further weakness due to market uncertainty flowing from the Japan tragedy, there is additional support at 117 and 114.50-115.00
A retracement to nearer the 200 day SMA at 111.55 is possible – all it needs is a the nuclear issue to escalate a notch higher, which from the news wires looks entirely possible over the next 24-48 hours.