Just a few days back, we spotted a move above the key 12.60 resistance level for OCBC…
It has been consolidating below this level for more than a month and finally the move on Wednesday which also led the STI strongly.
Indicators looking positive then for a reversal and some upside targets were drawn….
See OCBC chart below that was sent out.
Today, we have indeed seen OCBC traded higher and now at the 13.00 critical level where we are seeing some selling pressure…
May start to consolidate below for a few days before attempting a firm move again with the uptrend continuing and…
Perhaps next target at 13.50 will be touched soon as drawn…
What about DBS?
Well, it has been shown great actions too with it breaking the 25.40 level 2 days back and surging up….. Leading the STI index…
Was expecting a move above 26.00 soon too and it happened yesterday…
See DBS chart and targets below that were drawn 2 days back..
We have indeed seen the 26.00 resistance level gave way yesterday and up it went further to a high of 26.50.
We are currently seeing some resistance from 26.50 where some selling pressure is seen given the 3 days run we have experienced.
May consolidate a while and probably find some new higher support at 26.30 before attempting to push higher again…
Seems like a pretty good start for the year with the blue chips leading the way....
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