Semis Need South Korea to Hold 🇰🇷 The Chart Report
Chart of the Day
🏆 Today's Chart of the Day was shared by Daniel Puleo.
The South Korea KOSPI has emerged as one of the most important global indexes, given its significant semiconductor and memory exposure tied to the broader AI trade.
The South Korea ETF (EWY) is now retesting its Q1 highs and attempting to turn former resistance into support, while RSI has fallen below 40 for the first time since the 2025 uptrend began.
A failure to hold this level could signal further weakness for semiconductors, unless U.S. equities can successfully decouple from KOSPI volatility.
The Takeaway: EWY’s next move may determine whether the recent weakness in semis is a temporary pause or the beginning of a deeper correction.
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