Will transport Far hikes bring on a Reversal in SMRT chart?

http://www.straitstimes.com/breaking-news/singapore/story/can-concessions-be-extended-future-transport-fare-hikes-20140116

SMRT ready to reverse the downtrend? Many people have been asking this and speculating on the turnaround, but currently we see no sign of reversal yet. Resistance can be seen around $1.20 and unless this resistance is broken, we ll identify that as the first sign of reversal.