Dax Long Term Short Fibonnaci resistance level key

We are currently short the Dax and we see this as good opportunity to increase our short position below the key Fibonacci resistance level at $12440 due to the escalation of trade tensions between the US and China. This is because as a result of the ongoing trade war we expect the index to be significantly more volatile and we will therefore look to the Dax breaking the Fibonacci level at $12024 before potentially taking profit.