Monday, December 27, 2010

Short term Outlook of Jakarta Stock Exchange Index JKSE

For the past three months, JKSE is taking support at 3520 levels and it is likely to act as a trend decider for the coming trading sessions.  In the upper side it was resisted from 3800 region for two times.  Currently it is trading 3600 and it is very close to the short term support level of 3520.

If the index breaks 3660 in the short term it is likely to remain bullish and in the upper side it would try to test 3800 levels once again. On contrary, if it fails to move past 3660, then it could all set to test 3520 again.

Right now, the trading strategy should be based on the level 3660. Traders have a eye on that level to initiate short or long positions.

In the long term charts, the index has moved past its 2008 high of 2850, and made an all time high at 3800. Technical analysis of the index shows it is going to top out in this year 2011.