Bearish scenario, an IDX analysis we don't want to see

IDX looks good on daily timeframe but the probability of a fake break out on monthly timeframe is so quiet concerning. In order to stay bullish on IDX, the last point of support should not be broken down. The bearish scenario invalidation if a monthly close above 6755 and break out of pink resistance. The Yellow line is conservative bearish outlook and the Red line is aggressive bearish scenario.

Check on previous bullish analysis on 22/03/2021

DISCLAIMER ON
This analysis is not financial advice. Please note that you are responsible for your own investments. This chart only represents my opinion and view about the stock market in general and may be used only for educational purposes.