Indonesian Market Recap
JCI closed lower on last Friday amid the pressure due to the dramatic decline in the U.S. markets and crude price. Top Losers: Mining (-2.48%), Miscellaneous Industries (-1.76%), Infrastructure (-1.69%).
Today’s Outlook: Volatility in Global Market
Today we estimate JCI to move lower with the support range of 6461-6473 and resistance range of 6537-6547. Although the U.S. markets closed higher on Friday, 09/02/2018, the high volatility in the global market remains and is estimated to persist ahead of the release of the U.S, inflation on Wednesday, 02/14/2018. Along with the high volatility, the foreign investors consistently post the net sell in the last 2 weeks.
Download full report HERE.
