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


Straits Times Index (STI): Resistance Ahead


Despite breaking out of the kumo, STI may be hitting resistance soon.

1. Resistance level from Chikou Span is around 3201.65

2. There is a high possibility that it will retrace.with support at 3124 and 3063.

Target timeframe : 2 months for retracement.


Singapore election is just around the corner. Take care.


Ichimoku Chart Review : OCBC and Wilmar

Today, I am just going to stray away from the US stocks and briefly discuss about 2 stocks on the Singapore Exchange.

1. Wilmar, in the commodity sector. A darling that has went 3 folds since the lows in 2009. It was also included in the STI Index last year.

2. OCBC. One of the 3 major banks in Singapore and I believe, is part of the STI Index as well.