Hi,
You probably need to cut this branch off at the point of your arrow. You have needles there so you will get 3-5 new buds to work with.
That’s my take,
Charles
We can wait and see what happens. There's a chance that this bend may stimulate some buds as the top of the bend is now the highest point but I think it will still be hit and miss. Definitely more certain to prune at the point where new shoots are required. Usually get more than 1 shoot after pruning so if you still need the branch to continue use one for the side shoot and another one to grow a new end to replace the branch that was cut.
I have heard of that working with spruce, supposedly new buds will form the following spring on the outside of a bend. I hope to see if it really does work since I put some heavy bends into branches on my P. abies this month.