Monday, 20 August 2018
DBS Bank: 20 August 2018, Monday, 7.59pm Singapore Time
20 August 2018, Monday, 7.59pm Singapore Time
(Click on Technical Chart above to Expand)
Attached is the updated technicals for DBS Bank. The DBS Super-Cycle uptrend has now been delayed slightly by the current "trade-war spat" and the property cooling measure. The market is using the events to back-test the green support region ($20.00-$25.00) and the black support region to confirm the supercycle bull towards beyond $40.00 and $53.42. The expected trajectories are in dark orange and light orange respectively. The short term backtest does not derail the large uptrend. The technical price structure is one in which the critical super-cycle breakup got executed in 2017, and the critical backtest to confirm the supercycle bull got executed in 2018.