Indonesian Market Recap
JCI pared loss yesterday amid the massive pressure from global markets, yet the release of GDP growth curbed the loss. Top Losers : Misc (-1.86%), Basic Industry (-1.84%), Property (-1.46%).
Today’s Outlook: The Change in U.S. Monetary Expectancy
We estimate JCI to lower with the support range of 6537-6547 and resistance range of 6621-6635. The bearish U.S. markets marked by Down Jones decline of 4.7%, one day dramatic tumbling since 2011 constitutes as a negative sentiment. The global market currently changes its point of view over the hike of Fed’s rate as the topping-estimate U.S. economic data opens the possibility of 3x rates hike.
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