The Nasdaq has reaffirmed its robust bullish trend with stable price movements remaining within an upward channel on the 1-hour timeframe. The consistent price structure forming higher highs and higher lows indicates that buyers continue to dominate the market, while the selling pressure that has emerged so far is merely corrective and does not alter the overall direction. This scenario reflects a positive market sentiment that sustains expectations for further gains.
From a technical perspective, the rising Moving Averages reinforce the indication that the bullish trend is in a healthy state. As long as prices continue to stay above the MA and remain within the channel, the opportunities for further increases remain wide open. The balance between a strong trend, neat technical structure, and maintained volatility provides a solid foundation for the Nasdaq to uphold its positive momentum.
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The upward momentum is further emphasized by the MACD remaining in the positive territory, reflecting a dominant buying force. With comprehensive support from the MA, MACD, and the structure of the bullish channel, the Nasdaq holds substantial potential to continue its rally in the short term. The nearest target now points towards a significant resistance level at 25.618, which will determine if this index can extend its rise to even higher levels.
Technical Reference: buy as long as above 25.618
Potential Take Profit 1: 25.775
Potential Take Profit 2: 25.818
Potential Stop Loss 1: 25.663
Potential Stop Loss 2: 25.618
