The Nasdaq is displaying a mounting potential for upward movement as prices have risen above the midline of the Bollinger Bands, indicating that buyers are starting to seize control. The upward direction of the Bollinger Bands signals an increase in volatility that bolsters the bullish trend, creating opportunities for the Nasdaq to continue its ascent.
Moreover, prices holding above the 24-period Moving Average (MA) further solidify the upward structure, serving as a dynamic support that can keep the prices aligned with the uptrend. Should the buying pressure persist, the Nasdaq may test the next resistance level in the upcoming evening trading sessions.
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The Nasdaq illustrates its potential for growth after successfully breaking above the bearish channel, signaling a shift in momentum toward bullishness. Prices are now trading above the Moving Average (MA), acting as a dynamic support and reinforcing the upward trend in the short term. This breakout indicates that selling pressure is beginning to weaken, while buyers are increasingly dominating the market.
Technical Reference: buy while above 19,528
Potential Take Profit 1: 19,760
Potential Take Profit 2: 19,760
Potential Stop Loss 1: 19,577
Potential Stop Loss 2: 19,528
