North Korea Fires Missiles Again, 5 Times a Month in Total
North Korea fired Two Cruise Missiles Again
US and South Korean Intelligence Services are currently analyzing the launch
Kim Jong Un’s 5th Domestic Test
North Korea (North Korea) fired two cruise missiles again, Tuesday (25/1/2022) morning local time. This is Kim Jong Un’s fifth domestic test this month.
“North Korea fired two suspected cruise missiles,” South Korea’s Joint Chiefs of Staff (JCS) said in a statement, without providing further details.
“US and South Korean intelligence services are currently analyzing the launch.”
Previously Kim Jong Un had announced a commitment to modernize the military since December 2021. This was followed by weapons tests, which he witnessed for himself.
The United States and Japan sees it as a disturbing act
A number of countries, including the US and its neighbors South Korea and Japan, have condemned the move. They called North Korea’s move disturbing the region.
Washington imposed sanctions on the country earlier this month. But unfortunately, Pyongyang considers it a “provocation”.
Meanwhile, the UN Security Council failed to impose new sanctions on North Korea’s weapons tests. Russia and China blocked the decision, which should have come out of the past.
KOSPI – Technical Analysis
$KOSPI Composite Index down -3% today after the missile launch. Actually, KOSPI is down for a total of -18% from its All-Time-High on June 2021. There’s still no sign of bounce or bullish reversal for the KOSPI index. We might see another dump in the next few days.
WHAT ZFX THINKS…
KOSPI is in a bearish trend since June 2021 and looks like will continue its bearish trend this year. the next strong support level for KOSPI is around $2500 level.
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