All three major US markets rose at the closing (23/08); led by Nasdaq index with a gain of 1.55%. Mega-cap technology stocks are again being hunted by investors
after experiencing pressure last week. Meanwhile, oil prices managed to rebound more than 5%; encouraged by news from China which reported no new Covid-19 cases for the first time since last July.
In line with the movement of the majority of global exchanges, the JCI was able to strengthen at the beginning of the week with increases in all sectors. The declining Covid-19 cases and the easing of PPKM levels announced by the government have the potential to remain positive catalysts. The JCI movement projection will try to rise again to test the next resistance level at 6160.
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