Thursday, January 14, 2016

OCBC Bank: Heading back to 8.00 key support level?

Some bargain hunting near 8.00 expected….good to cover some shorts…. J

Sent: Monday, January 11, 2016 9:18 AM
Subject: ********** OCBC Bank: Support at 8.50 did not hold, more weakness below still... price 8.31.
OCBC has broke below the 8.50 support level as mentioned last week, and we can start to see a move towards the 8.00 if the temp support at 8.30 breaks down further. Indicators are starting to reverse on the selling seen below 8.50. Range would be from 8.30 to 8.50 for now with resistance at 8.50 still key and capping any upside from here. As long as this 8.50 holds and it trades below, we still have to be careful for more weakness with trend still pointing lower.

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