The KOSPI closed at 7,246.79 (-5.35%) as investor sentiment soured amid ongoing geopolitical tensions and concerns over economic growth in the region. This significant drop signals a market grappling with uncertainty, pushing the index further below key moving averages and into oversold territory.

Currently, the KOSPI is trading below both the 20-day simple moving average (SMA-20) at 8,356.85 and the 50-day simple moving average (SMA-50) at 7,931.03, indicating a bearish trend. The relative strength index (RSI) stands at 29.5, confirming that the index is in oversold territory, while it remains well within the 52-week range of 4,552.37 to 9,114.55.

Looking ahead, the KOSPI faces immediate resistance at the SMA-50 level of 7,931.03, while support is likely to be tested near the recent low of 7,186.21. A decisive move above the SMA-50 could signal a potential recovery, while a breach below 7,186.21 may exacerbate selling pressure.