DBS: Indeed a breakdown below 13.50, new multiyear low today at 13.07 before a quick rebound.....

Trend still looking negative with resistance again lowered to 13.66 now…. Support at 13.00 for now as mentioned….

Sent: Tuesday, February 02, 2016 11:56 AM
Subject: ************** DBS: Back to 13.50 key support for now, price 13.52

Following up previous call, we have indeed seen a rebound from the 13.50 support over the past few days but as soon as it crossed above 14.00, the bears came back. We are now back to the 13.50 support again. Note that any firm breakdown below the 13.45 – 13.50 level can see a new multi year with more selling likely as mentioned. For those looking for a quick rebound back to 14.00 like we have seen, you can consider long positions BUT please have a plan to stop loss at 13.44 probably in case of a breakdown. Still weak below 14.50 key resistance level. We may increase CFD SELL positions to ride the downside lower on a firm breakdown again below 13.50, with downside target at 13.00 first.