KOSPI Rebounds Sharply, but Bears Still Defend the DowntrendKOSPI Composite IndexKRX:KOSPIArslanAliButtThe KOSPI has delivered a strong bounce after testing the lower boundary of its descending channel, showing that buyers are willing to defend the recent lows. However, despite the impressive recovery, the broader structure remains bearish. Price is still trading inside the descending channel while both the 50 EMA and 100 EMA remain overhead, reinforcing the importance of the 7,100 resistance zone. This area combines channel resistance with previous horizontal resistance, making it the most important level on the chart. A confirmed breakout above this zone would likely trigger further upside toward 7,700, while a successful rejection could send price back toward 6,000 and potentially retest the recent lows. RSI has recovered from oversold conditions and is approaching the neutral 50 level, suggesting bearish momentum is fading. Even so, buyers still need confirmation before the trend can shift decisively. Bullish Trigger: Close above 7,100 Bearish Invalidation: Rejection below channel resistance followed by a move under 5,989