Thursday, January 7, 2016

DBS: more selling seen after this morning note..... now at 15.68....

Let’s see if 15.50 holds today... ?

Sent: Thursday, January 07, 2016 10:23 AM
Subject: *************** DBS: Breaking below 16.00 level can end sideway consolidation and see new low again.... price 15.82
DBS has broken the key 16.00 psychological level today on above average volume putting it at a new recent low below the support seen in October. There can be more weakness below 16.00 support turned resistance now, with a target to 15.50 then 15.00 possible if Asian markets continue to be weak, especially China. CFD SELL can be used to ride and downside from here still as long as 16.00 is a resistance. Longer term trend weak as mentioned with bears coming out again below 16.00 to take it lower.

Sent: Monday, January 04, 2016 11:32 AM
Subject: **************** DBS: Breaking below 16.60 temp support.... heading back to 16.00 where we can expect a technical rebound... price 16.31
DBS has traded above the 16.60 support level for about a week which also coincides with the 20 day MA line, but today we have seen a clear breakdown along with the market below this support. Likely to see some weakness as sellers take it lower towards the key 16.00 PSYCHOLOGICAL level which it has rebounded from twice already. Support is likely to hold and we can start to see some opportunities as it approaches this level. Those looking to long can scale trades near 16.00 for a potential rebound with stop loss below. Range will be back to 16.50 – 16.60 for now. Longer term still pointing lower for now as it consolidates sideways.

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