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Wednesday, January 5, 2011

FBMKLCI Chart & Summary (CIMB)

Prices surged to a new all time high and closed there yesterday. Prices are now within our targeted price range of 1,550-,1,570, where it could potentially end. Internally, the wave count does not count complete, suggesting that there is still room on the upside from here. However, we would not discount that a minor fourth wave correction could take place soon, maybe even today. A final push towards the upper end of this stipulated range is as good as any place to take profits.

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