Indonesian Market Recap
JCI continued to lower yesterday amid the high foreign net sell. Top Losers: Infrastructure (-2.34%), Basic Industry (-1.14%), Consumer (-0.95%).
Today’s Outlook: Awaiting the Fed’s Announcement
Today we estimate JCI to move lower with the support range of 6166-6176 and resistance range of 6267-6272. Today’s main sentiment is the FOMC’s meeting ending tonight. Investors need to keep their eyes on the Fed’s direction relating to the potency of further monetary tightening in 2018. From the domestic outlook, investors need to consider that if JCI lowers to the position of 6100, it will suffer from the decline of more than 9%.
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