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Based on a Fibonacci projection analysis, the wave (3) will travel to the 100 percent level, while the target of the 61.8 percent level at 2,781 ringgit seems too conservative, as it was barely missed on Tuesday. Resistance is at 2,866 ringgit, a break above which may trigger a rebound to 2,927 ringgit. No information in this analysis should be considered as being business, financial or legal advice. Each reader should consult his or her own professional or other advisers for business, financial or legal advice regarding the products mentioned in the analyses.