Indonesian Market Recap
JCI continued to lower yesterday as rupiah continues to depreciate. Top Losers : Finance (-1.88%), Infrastructure (-1.50%), Consumer (-0.71%).
Today’s Outlook: : Crude Prices Rally Further
We estimate that today JCI likely to lower further with the support range of 5693-5698 and resistance range of 5735-5768. Although the global tension lowered as the trade tension between the U.S. and China subdued, the global investors’ interests are less ahead of the release of FOMC’s minutes of meeting on Wednesday. On the other side, investors can make a good use of rally in global crude prices as they can keep their eyes on the commodities–based sectors amid the rupiah depreciation.
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