A few weeks back, we mentioned that Singapore Banks may have hit a strong roadblock! We mentioned that UOB resistance is $20, OCBC is $9.80 or $10(major resistance), DBS is $15.
Non of the banks broke out of the major resistances yet, when STI continues to power on these few weeks, even when fiscal cliff is over.
Our last article on Singapore Banks:
UOB now is $19.43, who seems the weakest looking at the chart. OCBC is $9.72, DBS is $14.81.
We still maintained our view that you can consider shorting these stocks to maintain a hedge against your bullish position if you are not willing to leave your bullish position.