UOB (technical)

UOB technicals: price chart shows gentle downtrend since last earnings release on 1st August. Prices have kept within trading channel since. Strong rebound yesterday and today after prices tested lower trend channel on Tuesday suggests inherent bullishness. Sellers and Buyers are equally divided and with prices near the upper trend channel now, market is at decision point. S1-R1 $21.50-$22.50, R2 $23.15 if upper trend channel is broken.