As for last Friday closing, the KLCI creating a Lower Low based on chart reading. If we take a look on the chart there are 3 Lower Highs and 3 Lower Lows in the making.
It shows that the market will continue its downtrend. It is quite important to look on this Wednesday night whether the Federal Reserve will make an announcement on interest rate hike.
Most people are saying that it is likely the Federal Reserve will raise it. We will wait and see what will happen to the Dow Jones.
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Maruti Suzuki India hit a new high of Rs 9,120 on the BSE in intra-day delas on Friday, surpassing the state-owned banking giant State Bank of India (SBI) in market capitalisation (market-cap) ranking.
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