The Nasdaq index has exhibited positive signals after successfully breaking through the upper boundary of a bearish channel on the hourly chart (H1), creating opportunities for further upward movement. This price action is bolstered by bullish signals from the Moving Average (MA), indicating a favorable momentum.
On the technical chart, the price of the Nasdaq currently trades above the 24-period MA line, suggesting a strong short-term upward trend. This breakthrough indicates a weakening of selling momentum, while buying interest appears to be on the rise. Additionally, other indicators, such as the RSI, remain in neutral territory but are trending upward, suggesting that the index has ample room to continue its ascent.
Recommended
Recommended
Recommended
Recommended
Consistent with the analysis from the hourly chart, the 15-minute chart also indicates buying signals as both MA and MACD present upward trends. Should the scenario unfold as expected, there is potential for the Nasdaq to test the resistance level of 21,905.
Technical Reference: buy as long as above 21,565
Potential Take Profit 1: 21,835
Potential Take Profit 2: 21,905
Potential Stop Loss 1: 21,640
Potential Stop Loss 2: 21,564
