Indonesian Market Recap
JCI rallied on Monday, 04/30. Investors reacted to the release of the 1Q18 earning performance from varied companies. Top Gainers : Basic Industry (+2.09%), Finance (+1.82%), Consumer (+1.47%).
Today’s Outlook: Pressure from FOMC Meeting
We estimate JCI to move lower with the support range of 5952-5958 and resistance range of 6031-6035. The global negative sentiment comes from the FOMC meeting to be finished tonight. It is estimated that the Fed will maintain hawkish stance in light of stable inflation at 2%. From domestic, investors need to keep their eyes on the release of April’s inflation is estimated to settle at 3.5% particularly after BI will hold its benchmark rate higher.
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