Monday, February 15, 2016

DBS: Rebounded from 13.00..... at what levels are we taking profit on rebound or selling again...?

Now at 13.44....  More upside before a sell down again back to support?

Sent: Friday, 12 February, 2016 9:30 AM
Subject: ************ DBS: Back to support at 13.00, may be a temp support base for now, price 13.09
From previous call, DBS has rebounded from the 13.00 psychological support level but still unable to cross back above the 13.65 near term resistance now. In fact, range has been brought lower again to 13.45 cap now which was the high over the past 2 days. Today we are seeing a sell down back to the key 13.00 support again with a low seen today at 13.05. For those who have shorted previously would be good to cover back some positions as it approaches the 13.00 to take some profit first. Those looking to long can consider scaling some long positions near 13.00 for a quick trade back to 13.60, but note that longer term trend still weak for now so stop loss on a break down below 13.00 which can see it find a new low towards 12.40 next. CFD SELL can be used to ride the retracement lower on any rebound seen near resistance at 13.60.

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