Indonesia heads to the polls to elect a new president this week and while the outcome looks less certain that it did a few weeks ago charts suggest that stocks are poised to resume their uptrend.
Joko "Jokowi" Widodo, the popular governor of Jakarta, remains the frontrunner to win Wednesday's vote but his poll lead has narrowed sharply in recent weeks and the possibility of a win by rival ex-general Prabowo Subianto is not being ruled out.
The Jakarta Composite Index chart is defined by three levels of historical support and resistance. These levels help set the boundaries for any moves following the Indonesian election. As the election has become more closely contested there has been a reduction in trend strength.
The key resistance level is near 5150, which the most recent uptrend failed to reach. Any rebound following the election results will find resistance between 5100 and 5150.