The Nasdaq is demonstrating remarkable strength by maintaining its upward trend within a bullish channel on the 1-hour timeframe. This situation confirms the ongoing dominance of buyers, who show no signs of weakening. In fact, they have successfully pushed the index to achieve new all-time highs. The persistent formation of stable upward price patterns serves as evidence that the bullish momentum remains strong. Any corrections observed act merely as brief pauses before further strengthening.
From a technical perspective, the consistently rising Moving Average (MA) line provides additional confirmation that the short-term trend remains positive. Furthermore, the consistent zigzag pattern creating higher highs and higher lows further reinforces the upward direction. This combination of technical signals indicates that the Nasdaq is likely to maintain its momentum in the upcoming sessions, with the potential to continue rising as long as prices remain above the lower boundary of the bullish channel.
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The Nasdaq displays signs of strengthening after successfully rebounding from the lower zone of the Bollinger Bands (BB), indicating a buying reaction in the oversold area. The CCI indicator’s ascent from the oversold territory further supports the potential upward reversal signal. The combination of these two technical signals suggests that bullish momentum is beginning to re-establish itself, creating opportunities for the Nasdaq to resume its rise and test significant resistance levels at 26,360 in the near term.
Technical Reference: buy while above 26,025
Potential Take Profit 1: 26,298
Potential Take Profit 2: 26,360
Potential Stop Loss 1: 26,080
Potential Stop Loss 2: 26,025
