Asian Tigers Continued

South Korean Market

BraVoCycles Newsletter
August 09, 2024

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EWY - South Korean ETF

EWY, iShares MSCI South Korea ETF made so far three waves down from the July peak, but it may drop more, developing into a more bearish structure.
The charts below show cycle composites of EWY developed for daily and weekly charts.
The daily cycle composite suggests further weakness into mid-September.
Then, a rebound can be expected into early 2025.
The weekly cycle composite suggests a weakness from early 2025 to late 2025 and possibly into 2026.