Technically, it reeks of a bias, but is not advancing with commitment. Instead is slowly breaking down the supports, from the trendline to the widening , and yesterday, a critical level to close at a lower low (after a lower high weeks ago).
It is possible for a short bounce to 20.80 now, but downside bias remains, probably to continue after a bit of consolidation, if at all.
As DBS is a main component of the Strats Times Index, STI , there is correlation in the apparent weakness.
This came after news set in that regulators have limited the dividend yield for SG bassed banks.
Now, we see some decent technical commitment!