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