The Nasdaq’s movement on the 1-hour time frame continues to show a well-maintained strengthening phase, as prices move smoothly within a bullish channel. The ongoing formation of higher highs and higher lows indicates that buying pressure is still dominating the market, while attempts to decrease have not succeeded in altering the major trend direction. As long as the index remains within this channel, any potential corrections are likely to be limited, leaving opportunities for further increases still on the table.
Technical support for this upward trend is evident from the Moving Average, which consistently trends upward, and the ZigZag indicator sustaining an uptrend pattern. Additionally, the MACD staying in positive territory suggests that the bullish momentum remains robust. The alignment between price structure and technical indicators provides further confirmation that the Nasdaq still has room to continue strengthening towards the nearest resistance area.
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On the 15-minute chart, Nasdaq demonstrates increasingly strong positive signals after successfully breaking out of a bearish channel and beginning to form a new bullish channel. This condition reflects the resurgence of buyers in the short-term movement. As long as prices can hold above the nearest support level, backed by sustained positive momentum, there is a chance for Nasdaq to continue rising and test resistance at the 25,900 level.
Technical Reference: buy while above 25,690
Potential Take Profit 1: 25,850
Potential Take Profit 2: 25,900
Potential Stop Loss 1: 25,745
Potential Stop Loss 2: 25,690
