Market Recap
Although JCI closed at a steep low at I session, JCI finished the last trading session at a slight low. The rupiah depreciation had significant impacts on JCI movement. Top Losers: Consumer (-0.85%), Property (-0.40%), Trade (-0.31%).

The global markets mostly closed on high notes yesterday as investors shrugged off the unresolved trade disputes. Meanwhile, European markets digested Italy’s plan to cut its trade balance deficit. On the other side, Asia market finished on a low note amid the U.S. dollar appreciation.

Today’s Outlook: Pressure of Rally in Crude Price
We estimate that today JCI moves at sluggish pace at the support range of 5812-5824 and resistance range of 5882-5895. The negative sentiment comes from the rally in the global crude prices. The rally occurred when the U.S. crude stockpiles increased by 8 million barrels last week. Global investors shrugged off the increment in the U.S. crude stockpile because they concerned more about the U.S. sanctions against Iran. On the other side, the surging U.S. job data impacted on the U.S. dollar appreciation.

From the domestic outlook, investors keep their wary eyes on September’s consumer confidence index. Consumer confidence indexes of July and August waned. September’s sluggish core inflation indicated that September’s consumer index will be low.

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