DAX Xetra (cash index)
An acceleration of the selling pressure on Friday has seriously questioned the prospects of a recovery in the DAX.
Previously, the pivot around 12,600 has been a key gauge and the decisive close back below this pivot on Friday coincided with a decisive breakdown of a uptrend channel.
Early losses have been bought into so far, but the bulls have work to do in order to recover a degree of control.
Momentum indicators are now more mixed, with the RSI and MACD lines around their neutral points, whilst the slip in the Stochastics reflects more the sell-off that closed last week.
How the market leaves this 200 tick trading band could be key now.
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