The NASDAQ continues to exhibit a robust upward trend as it consistently remains within a bullish channel on the 1-hour time frame, showing no significant signs of weakness. The price structure is consistently forming higher lows and higher highs, reflecting an unshakable dominance of buyers. The zigzag movement pattern further reinforces the bullish market direction, with selling pressure appearing only as a minor, healthy correction in this short-term trend.
Additional support is provided by the position of the Moving Average (MA), which is above the previous price and trending upward, indicating that the upward momentum is still intact. The MA remaining in positive territory is an important signal that the technical bias continues to favor the buyers. If this structure holds and there are no significant fundamental disruptions, NASDAQ has the potential to continue rising towards the next resistances, with a bullish scenario still being valid in the short term.
Recommended
Recommended
Recommended
Recommended
The bullish channel formed on the 15-minute chart of Nasdaq indicates the dominance of buyers in the short-term movement, with prices continuously forming higher highs and higher lows. Despite experiencing a correction, the CCI indicator is currently in the oversold area, signaling potential upward bouncing as selling pressure starts to ease. This technical signal strengthens the likelihood of a Nasdaq rebound in the near term, with the potential to continue its upward trend testing the resistance at 23,080.
Technical Reference: buy as long as above 22,800
Potential Take Profit 1: 23,030
Potential Take Profit 2: 23,080
Potential Stop Loss 1: 22,850
Potential Stop Loss 2: 22,800
