Again trying to pick a top for DBS after the previous failed attempt.
The price has been advancing for almost two months without a meaningful retracement.
After the highlighted black candle made a new high with heavy volume, DBS has re-tested the high on lighter volume.
This shows a lack in buying interest to push through the high.
Daily MACD-Histogram shows bearish divergence with price.
Smoothed RSI also showing bearish divergence.
Cut loss if $14.46 resistance is broken; target to cover short at $13.24 (61.8% Fibonacci).
Outcome:
12 Mar: Opened SHORT at $14.23
14 Mar: Closed at $14.47
Reason for closing: Buy stop order triggered.
Loss $0.24, 1.7%
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