DBS: A rebound last week, then a Sell down as soon as it nears the 16.00....

Back to temp support at 15.50…. let’s see when is the next entry again….

Sent: Thursday, April 14, 2016 9:54 AM
Subject: ******************* DBS: Strong rebound towards 16.00 expected..... key level to watch there for more upside rally... price 15.73

DBS has staged a incredible rally together with the other local banks over the past few days, likely to head towards the 16.00 key psychological resistance where we may see some profit taking and selling again. For those who has already accumulated on dips can consider scaling sell positions near 16.00. CFD SELL can also be used to ride the retracement back down. As long as 16.00 is a cap, we can still expect more selling back down. Only a break and close above the 16.00 can see a more solid recovery back to 17.00 in the short to mid term.