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Wind Of Change. A storm that is brewing round the corner or just ripples before calamity returns to the stock market?
 
Singapore

DBS
 

Since hitting a high of $15.80 on 7th January 2010, DBS has started to reverse its course of direction. The downtrend is still intact for DBS as it continues to trade below its 20 and 50-day moving averages. However be on the lookout for a possible short-term “relieve bounce” for DBS due to a potential bullish crossover signal seen in the MACD trend indicator below its centerline. In addition, the RSI oscillator continues to inch upwards from the 30% oversold level. The immediate resistance is at $14.50 and a break above it opens up scope to test the next resistance at $15.00. The first line of defense for DBS will be at its immediate support of $13.88 and failure to hold at this level may see another round of sell-off to test the next support at $13.30.

 
 
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