The Dax fell 10 points shy of the first target at 12599 before bouncing along with FTSE at 7600-7580. It's since started to make a continuation pattern which can push higher to 12798 -12830 but should eventually break the lower smaller parallel and offer another shorting opportunity once it does so back to 12609-12599. Any subsequent failure to hold 12599 will then trigger a further short back to 12323
In a weekly chart you can see clearly a HEAD & SHOULDER pattern. Its already going down on the right shoulder. I believe that the 12599 support will be broken. Lets see it...