On the 1-hour chart, the Nasdaq continues to exhibit strong upward momentum with a clear dominance of buyers supporting the primary trend. The prevailing price structure forms a pattern of higher highs (HH) and higher lows (HL), confirming that the bullish direction remains intact. The Movement Average (MA) starting to curve upwards further strengthens the outlook for a sustained rally, indicating that the market still has room to climb higher.
The resilience of prices above the dynamic support area serves as evidence that buying pressure remains prevalent. As long as prices do not break through this area, the opportunity for the Nasdaq to rise still exists, with the potential to test the nearest resistance level later tonight.
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In the 15-minute timeframe, the bullish signals appear increasingly convincing as prices have successfully broken through the bearish trendline that was previously a significant barrier. The MA’s upward reversal now serves as additional confirmation of the trend’s strength, opening opportunities for the Nasdaq to continue its rally towards the key resistance area around 25,355.
Technical Reference: buy while above 25,092
Potential Take Profit 1: 25,305
Potential Take Profit 2: 25,355
Potential Stop Loss 1: 25,140
Potential Stop Loss 2: 25,092
