As we can see in 1H Chart that the candlesticks follow the bearish trendline, and it broke the bullish trendline, then there is a possibility that it will goes down further. On the other hand, it did only 38.2% retrace. Fundamentally, Indonesia will surely go to recession starting this October. So, the target for downtrend expansion would be 61.8%, which is 26000.
If you like my idea, then please click Like & Follow button. If you have any other idea, then please leave a comment below. Your contribution will surely motivate me to post more ideas.
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.