Jakarta Composite Index (IHSG) has been on the downtrend for the last one month. If we look at the chart, we can find a double top which the support has been breached and become a resistance.
The Index has just tested the resistance and pull back which can signal a possible downtrend. The key points for a further down will be :
1. Covid 19 Vaccination has started in Indonesia. However, there are areas in the country refusing to receive the doses; 2. Indonesian companies are subjected to release their 2020 full year audited financial report which is assumed not to be in a good performance; 3. Bank Indonesia is going to announce the interest rate.
Remember, The trendline might be breached. As long as it is not, I am going to stay liquid.