Wall Street managed to close higher in trading (24/01); at the same time ending the weakening that occurred throughout last week. Buying action on technology stocks, which had experienced deep correction, supported the index ahead of the FOMC meeting this week. Meanwhile, crude oil prices tend to weaken amid potential supply disruptions due to geopolitical tensions in Ukraine.
Domestically, JCI started the week with a 1.06% decline to a level of 6,655. Amid the lack of new positive sentiment, only the Energy and Transportation sectors were still able to move higher. For today, the benchmark index has the potential to rebound with the projected range of movement at 6,630 – 6,730.
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