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Tuesday, January 4, 2011

FBMKLCI Chart & Summary (CIMB)

Prices continued to edge to new highs yesterday just as we expected. As long as the 1,509 level stands, we are looking for higher levels ahead although it has met its minimum requirement, which is to hit new highs above the 1,532 levels. Potential stopping areas are within the 1,550-1,570 levels. We will be on the lookout for a reversal within the said resistance band. We remain near term bullish on the index.

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