DAX holding minor support at 12220/230 re-targets the main challenge for bulls at 12290/300. We over ran this level to 12325/331 on Monday and Tuesday so a break above 12340 is a short term buy signal targeting 12375/380 and perhaps as far as strong resistance at 12410/420 for some profit taking on longs.
First support at 12230/220 held in to the close but further losses target 12180/185 and 12150/145 before the 12088/085 low. Strong support at 12060/050 is probably the best chance of a low for the correction as well we know...and held last week. Try longs on the approach again with stops below 12000. A break below 12000 however is another sell signal targeting 11975 and 11945/940 this week.