The Nasdaq chart on a 1-hour timeframe continues to operate within a bullish channel, indicating that the buyers are still in control, even though the price has yet to execute a successful breakout upwards. This scenario demonstrates that the upward trend remains intact, with price movements consistently following a rising pattern. The preservation of this channel signals that the market is still inclined to seek buying opportunities, although the strengthening momentum is proceeding with caution.
From a technical perspective, the Moving Average (MA) indicator has begun to flatten, yet it still signals a bullish tendency. Meanwhile, the Zigzag indicator continues to establish a Higher High (HH) and Higher Low (HL) pattern, reinforcing the positive outlook for price increases. This combination of signals opens the door for the Nasdaq to continue its upward trajectory, as long as it does not breach the primary support of the established channel.
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On the 15-minute chart, the Nasdaq seems poised to sustain its bullish trend as the price remains enclosed in an upward channel, reflecting a robust dominance of buyers in the market. This signal is further supported by the upward trajectory of the Moving Average (MA), indicating that the strengthening momentum is increasingly solid. With this technical backing, the Nasdaq is likely to continue its ascent in tonight’s US trading session, aiming to test a crucial resistance level around 24,077.
Technical Reference: buy as long as it stays above 23,850
Potential Take Profit 1: 24,035
Potential Take Profit 2: 24,077
Potential Stop Loss 1: 23,885
Potential Stop Loss 2: 23,850
