The Nasdaq is beginning to exhibit early signs of a trend reversal after successfully breaking through the resistance area of the bearish channel on the 1-hour time frame. This breakout serves as a crucial indicator that seller dominance is starting to weaken, while buyers are beginning to take control of the market direction. During tonight’s US session, the technical structure emerging from the downward channel confirms a transition towards a more stable bullish phase, marking a significant change in momentum in the short term.
The outlook for Nasdaq’s upward movement is strengthening with supportive technical signals aligning. The Moving Average (MA) is sharply rising, ZigZag is forming a clear higher high pattern, and MACD is situated in the positive zone, affirming the increasing strength of buyer dominance. This combination of indicators suggests that a continued rally is possible, especially as long as prices can remain above the breakout area without reverting to the previous bearish structure. With such support, Nasdaq may continue its ascent toward higher resistance levels.
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On the 15-minute time frame, Nasdaq’s strength is further observable with the formation of a bullish channel accompanying the price movement. The rising MA and MACD remaining in the positive zone reinforce the bullish potential in tonight’s US session, allowing Nasdaq a better chance to continue its technical recovery. With solid short-term momentum support, Nasdaq has a higher probability of testing the significant resistance at 25,355.
Technical Reference: buy above 25,075
Potential Take Profit 1: 25,282
Potential Take Profit 2: 25,355
Potential Stop Loss 1: 25,145
Potential Stop Loss 2: 25,075
