In the US trading session tonight, the NASDAQ continues to uphold a strong bullish trend, maintaining stability within an upward channel on a 1-hour timeframe without any significant signs of weakness. The consistent price structure is creating higher lows and higher highs, indicating a solid dominance by the buyers. The zigzag pattern aligning with the upward trend further reinforces the bullish bias.
Additional confirmation comes from the Moving Average (MA) indicator, which is now trending upwards, consistently remaining above previous historical prices, thereby strengthening the indication that the upward momentum still prevails. The stable position of the MA in the positive zone serves as a key indicator that technical bias remains favorably positioned for buyers. As long as this structure is not disrupted by major fundamental factors, the chances for the NASDAQ to rise towards the next resistance remain open, keeping the bullish scenario relevant in the short term.
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On the 15-minute chart, the NASDAQ also displays a strong buyer dominance during short-term movements, with prices consistently forming higher highs and higher lows. Although a technical correction occurred, the Current CCI indicator is currently positioned in the oversold area, signifying a potential bounce back as selling pressure decreases. This signal enhances the possibility of a near-term rebound for the NASDAQ, aiming for a rise towards the resistance zone around 23,095.
Technical Reference: Buy while above 22,815
Potential Take Profit 1: 23,035
Potential Take Profit 2: 23,095
Potential Stop Loss 1: 22,860
Potential Stop Loss 2: 22,815
