Sunday, 18 March 2012

OCBC - requested by UTA

OCBC previously bounced off the Fibo 50 level as well as the 200MA.
Currently, it is resisted by the previous support turned resistance level of 9.04.
If it managed to breakup and continue its rally, watch for the level of around 9.33-9.39 which will meet a falling window resistance.
However, 2 hanging man look alike candlestick has be formed on Thurs & Fri.
So be careful if vested.
*Note: The banks is US markets has been doing tremendously good. It might be a possible reason why banks are holding well.

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