Thursday, November 18, 2010

DBS : favouring to the downside


Still expectng DBS to trade to to the lower trend line.
This is a weekly chart.
$14 and $15 corridor has been a major contesting ground
between the bulls and bears.
With the bulls defending the $14 even with heavy selling volume.
Bulls and bears are equally matched at the moment.
This week so far has been low on volume.
Showing abit of exhaustion on both side.
Dow has jumped overnight with a triple digit gain.
Seniment should be initially bullish.
As for DBS, favouring a continuation of the downward movement as
has been initiated over the last 4 to 5 weeks.

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