IDX Composite IndexUpdated WILL IHSG SURVIVE IT 6,500 LEVELS?
1. Trend & Market Structure
IHSG is still in a downtrend, indicated by lower highs and lower lows.
The price recently attempted to break the downtrend line, but there are signs of a false breakout as it dropped again near resistance.
2. Support & Resistance Levels
Nearest Support: 6,500 - 6,530 (currently being tested).
Strong Support: 6,260 - 6,170 (if further breakdown occurs).
Nearest Resistance: 6,583 - 6,683 (a level that needs to be broken for short-term bullish confirmation).
Major Resistance: 6,907 (a strong resistance that could signal a trend reversal if broken).
3. Indicators & Further Signals
Short-term EMA/MA: The price is moving around a small moving average (possibly MA5 or MA10), indicating uncertainty about whether it will continue rising or get rejected downward.
Candle Pattern: A doji or rejection candle is forming near minor resistance, which could signal potential weakness.
Breakout Trendline?: The price has briefly moved above the downtrend line, but confirmation is needed to determine if this is a valid breakout or just a retest before dropping again.
4. IHSG Projection
Bullish Scenario: If IHSG can hold above 6,530 and break through 6,583-6,683, it could continue rising towards 6,900.
Bearish Scenario: If it fails to stay above 6,530, it may drop further to the strong support zone of 6,260-6,170.
Conclusion:
Right now, IHSG is at a crucial level. It’s important to see whether it can hold above 6,530 or break down further. If you're trading in the short term, wait for confirmation to see if IHSG will break out or face rejection from this level.
IHSG is still in a downtrend, indicated by lower highs and lower lows.
The price recently attempted to break the downtrend line, but there are signs of a false breakout as it dropped again near resistance.
2. Support & Resistance Levels
Nearest Support: 6,500 - 6,530 (currently being tested).
Strong Support: 6,260 - 6,170 (if further breakdown occurs).
Nearest Resistance: 6,583 - 6,683 (a level that needs to be broken for short-term bullish confirmation).
Major Resistance: 6,907 (a strong resistance that could signal a trend reversal if broken).
3. Indicators & Further Signals
Short-term EMA/MA: The price is moving around a small moving average (possibly MA5 or MA10), indicating uncertainty about whether it will continue rising or get rejected downward.
Candle Pattern: A doji or rejection candle is forming near minor resistance, which could signal potential weakness.
Breakout Trendline?: The price has briefly moved above the downtrend line, but confirmation is needed to determine if this is a valid breakout or just a retest before dropping again.
4. IHSG Projection
Bullish Scenario: If IHSG can hold above 6,530 and break through 6,583-6,683, it could continue rising towards 6,900.
Bearish Scenario: If it fails to stay above 6,530, it may drop further to the strong support zone of 6,260-6,170.
Conclusion:
Right now, IHSG is at a crucial level. It’s important to see whether it can hold above 6,530 or break down further. If you're trading in the short term, wait for confirmation to see if IHSG will break out or face rejection from this level.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.