DAX – Confluence of 100-MA & Pivot support stands exposed

The inside day candle stick formation on Friday followed by a gap down opening and a big sell-off yesterday suggests the retreat from the high of 10,780 (Sep 8 high) has resumed and the index is likely to test 10, 182 levels (100-DMA + monthly pivot support).

Only a daily close above 10,705 (Sep 22 high) would signal bearish invalidation.