DAX - Daily - Rangebound prices to continue

The DAX continues to trade within a range for September with more sideways action expected.

The DAX broke out of the descending triangle pattern at the start of September and has stayed within range over the past 2 weeks. Looking at the chart, it looks likely that the index will continue within the range providing possible buying opportunities around the 15,500 - 15,600 range. A break towards the side for the index could be quite negative and see the price fall towards 15,000/14,500 in the medium term. Towards the upside, a break out of the range highs at 16,050 could target a move back towards the highs at 16,500. RSI is currently neural with MACD pointing higher though.