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STI

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