The Nasdaq continues to exhibit strong performance, following a stable upward trend within a bullish channel on the 1-hour time frame. This movement confirms that buyers are still in control of the market, with no significant signs of fatigue. The consistent price structure forming higher highs and higher lows indicates that the strengthening momentum remains robust, where any corrections appear to be merely brief pauses before the upward movement resumes. This situation reflects a high level of market confidence in the continuation of Nasdaq’s positive trend.
From a technical perspective, the rising Moving Average (MA) with a sharp slope serves as strong evidence that the short-term trend remains bullish. This signal is further reinforced by the aligned ZigZag pattern, forming a series of upward structures that support the potential for continued strengthening in the upcoming sessions. As long as the price remains above the lower boundary of the bullish channel, there is ample opportunity for the Nasdaq to maintain its positive momentum.
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Moreover, the rebound from the lower area of the Bollinger Bands (BB) signals a strong buying interest in the oversold region. The rising CCI indicator from the oversold territory also provides an early signal of a potential upward reversal. This combination of technical signals indicates that buyers still possess the strength to push the Nasdaq towards a crucial resistance level around 26,360, with a probability of further strengthening in the near term if the bullish momentum is maintained.
Technical Reference: buy above 26,225
Potential Take Profit 1: 26,153
Potential Take Profit 2: 26,360
Potential Stop Loss 1: 25,080
Potential Stop Loss 2: 25,025
