The pattern has been confirmed, as its neckline support at 3,180 ringgit was broken below.

Based on the price difference between the top at 3,270 ringgit and the neckline at 3,180 ringgit, a measured target has been pinpointed at 3,092 ringgit, the 50 percent Fibonacci retracement on the rise from 2,914 ringgit to 3,270 ringgit.

Resistance is at 3,214 ringgit, a break above which will invalidate the bearish outlook.

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