The Nasdaq continues to demonstrate a solid upward trend on the 1-hour time frame, maintaining a stable bullish structure. A consistent series of Higher Lows (HL) is forming, indicating that buyers are still in control of price movements, and any corrections present an opportunity for accumulation. This pattern is crucial for the continuation of the trend, as long as the price does not break through the previous HL, the upward direction is considered technically valid.
Additional support comes from the Zigzag indicator, which displays a clear upward pattern, coupled with the price being above the Moving Average line, reinforcing the dominance of bullish momentum. These two indicators bolster the belief that the Nasdaq still has room for further gains in the near future.
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On the 15-minute time frame, the Nasdaq exhibits potential for a continuation of the upward trend, supported by strong technical indicators from the Moving Average (MA) and MACD. Prices are stabilizing above the MA, reflecting a short-term trend that remains bullish, while the MACD is in positive territory with the signal line trending upward, reinforcing buying momentum. The combination of these two indicators signals that buying support still dominates, testing the 21,905 level.
Technical Reference: buy as long as above 21,678
Potential Take Profit 1: 21,855
Potential Take Profit 2: 21,905
Potential Stop Loss 1: 21,725
Potential Stop Loss 2: 21,678
