On the DAX chart, we can see that the instrument is testing the previously broken downside resistance which is now acting as a downside support 12560 level. This level should hold for an extension lower. In the case of a daily break above this level the continuation lower would be invalidated. A downtrend Pitchfork channel median line is 12000 level and this is the downside target.
Note: look for the short trade entries in case of the bearish daily close with the stop loss above the 12560 level.
