Tuesday, December 15, 2015

DBS: A Rebound from support as mentioned then some retracement as soon as resistance nears....

Rebounding from low seen today after call issued to a high of 16.48…. Heading back towards 16.00 again?

Sent: Tuesday, December 15, 2015 9:35 AM
Subject: ************* DBS: New lower range with breakdown over the past few days... price 16.18
DBS has broke below the 16.50 support level 3 days back and headed to a low of 16.00 before a technical rebound seen yesterday. Range is now from 16.00 to 16.50. A bullish reversal hammer candlestick spotted yesterday with can signal that the 16.00 support is a firm one to be tested. Longer term trend is still pointing lower so any rebound back to 16.50 could only be temporary before a retracement back down again. As long as 16.50 is a resistance now, we are short term bearish with a breakdown below 16.00 still possible which can see a target to 15.40 then 15.00. Those looking to catch any technical rebound can scale some trades near support with stop loss below.

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