*Update* OCBC 30 September 2015

Another quick update, let’s look at OCBC

Seems like it broke the symmetrical triangle formation. Currently, might be looking to form a descending triangle.

What is descending triangle you ask?
A bearish chart pattern used in technical analysis that is created by drawing one trendline that connects a series of lower highs and a second trendline that has historically proven to be a strong level of support. Traders watch for a move below support, as it suggests that downward momentum is building. Once the breakdown occurs, traders enter into short positions and aggressively push the price of the asset lower.
(From http://www.investopedia.com / One of my favourite sites!)

Basically, it can also show that the demand is weakening.

Support: $8.65
20,50,200 dma: all still downtrending
Short Term Resistance: $8.90 / $9.28

OCBC

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