The Nasdaq index continues to demonstrate a resilient upward trend as prices move smoothly within a bullish channel on the 1-hour timeframe. The consistent price structure forming higher highs and higher lows indicates that buyers are firmly in command, while selling pressure merely provides light corrections that do not disrupt the main trend. This stability reflects a market sentiment that remains optimistic regarding potential further increases.
From a technical perspective, the upward-moving Moving Average provides additional confirmation that the bullish trend is still on a healthy path. As long as prices maintain their position above the MA and stay within the channel, the potential for growth remains intact. The combination of a strong trend, controlled volatility, and supportive indicators gives this index a solid technical foundation for continuing its positive momentum.
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This momentum is further bolstered by the MACD remaining in the positive territory, indicating that the upward push is still dominant. With a comprehensive technical support system, from the MA to the MACD and the structural bullish channel, Nasdaq has the potential to extend its rally in the short term. The nearest target lies within the resistance level of 25,755, which serves as a key indicator of whether the rally can continue into the next phase of higher rally.
Technical Reference: buy as long as above 25,560
Potential Take Profit 1: 25,710
Potential Take Profit 2: 25,755
Potential Stop Loss 1: 25,595
Potential Stop Loss 2: 25,560
