DBS

SG Banking Sector:
US banks received "Ang Bao" from US FED this morning after US trading hours. Having passed the 2nd Stress Test, the Federal Reserve has approved plans for U.S. banks to use their extra capital for stock buybacks, dividends and other purposes beyond being a cushion for credit crisis, according to Reuters report this morning.
The optimism spilled to Asian market this morning.

Following is my technical analysis on DBS

Fed gives big U.S. banks a green light for buyback, dividend plans (Reuters)http://reut.rs/2soORuJ

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