Singapore banks in bearish territories.

All 3 Singapore banks (UOB, DBS, OCBC) are in bearish territories in the Ichimoku charts.

If Singapore is a financial hub and the banking stocks is a reflection of the economy, then the charts are clearly showing the significant resistance ahead.

I expect tough times ahead in 2012.




UOB with support at $16.85 and resistance at $17.21




OCBC with support at $8.03 and resistance at $8.28




DBS with support at $11.77 and resistance at $12.21


OCBC Bank (O39.SI) : Accelerated fall. Bearish


OCBC has been falling.

On the Ichimoku Chart, the stock has been bearish since August. with 4 gap down over the last 1 month.

In fact, the last 3 trading days, has seen it gap down again; suggesting that the fall is now being accelerated.

I think this will be a great setup for a ‘falling knife’. What’s the catalyst to go ‘Long’ now?