• Alex Laan

Indonesia may look bullish

Updated: Apr 22, 2019

I'm eering on the bullish side thinking Indonesia might break up of this bullish flag. But I might be wrong...

  • On the bright side is the renewed strength in some parts of Asia which could spill over to countries such as Indonesia.

  • A chart of the broad market index in local currency looks fairly strong, ideally this would also look equally strong in USD terms which it does not.

  • The main caveat as I see it is the increase in gross external debt which makes the country more vulnerable if the USD continues it's recent up trend.

Indonesia's gross external debt:

Indonesia Composite index (local currency)


USDIDR weekly

Good luck and remember to make your own decisions!

Note on April 22nd, preliminary election results before Easter boosted the stock market at the open which was subsequently sold down. I'd avoid this market for now.

Asker, Norway

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